Question

There are different ways to increase import trade barriers. The easiest way is to create a tariff. To discourage the use of tariffs, the trade agreements promote the use of non-tariff trade mechanisms. Quotas are an example of a non-tariff trade policy.

Another example of a non-tariff trade policy would be _____.

Answer 1

Answer: Local Content Requirement

Explanation: As a tax on goods bought from abroad or exported out of the states, tariff is very necessary to maintain a country but the likes of goods produced in the states should its tariff should be reduced.