Trade Barriers

Import•To bring something in from another country

Export•To send something out of the country

Trade Barriers

•Tariffs

•Quotas

•Embargo

Tariff• A tax on an imported good or service

Quotas• A limited on the amount of a

foreign good or service that may be legally imported.

• ONLY A CERTAIN AMOUNT

Embargo• Prohibits or bans trade with another

nation. The ban of a foreign nation’s imports or ban exports to that nation

Think about this…

•What would you miss if all foreign goods and services were kept out of the US?

Think about this…

•What would your life be like without international trade?

Think about this…

•What goods made in foreign countries do you usually enjoy?

Free Trade

•Trade between nations without trade barriers

•(tariffs, quotas, and embargos)