Trade Barriers
Obstacles to international trade: tariffs, quotas, regulations, transport costs.
Real World
China's strict product certification rules (CCC mark) act as a non-tariff barrier, delaying and increasing costs for foreign firms like Tesla trying to enter the Chinese market.
Exam Focus
Distinguish tariff from non-tariff barriers and always consider who benefits and who loses — examiners reward two-sided analysis.
How well did you know this?