Economic Trade Barriers

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Economic Trade Barriers

  1. 1. Trade Barriers
  2. 2. Import <ul><li>To bring something in from another country </li></ul>
  3. 3. Export <ul><li>To send something out of the country </li></ul>
  4. 4. Trade Barriers <ul><li>Tariffs </li></ul><ul><li>Quotas </li></ul><ul><li>Embargo </li></ul>
  5. 5. Tariff <ul><li>A tax on an imported good or service </li></ul>
  6. 6. Quotas <ul><li>A limited on the amount of a foreign good or service that may be legally imported. </li></ul><ul><li>ONLY A CERTAIN AMOUNT </li></ul>
  7. 7. Embargo <ul><li>Prohibits or bans trade with another nation. The ban of a foreign nation’s imports or ban exports to that nation </li></ul>
  8. 8. Think about this… <ul><li>What would you miss if all foreign goods and services were kept out of the US? </li></ul>
  9. 9. Think about this… <ul><li>What would your life be like without international trade? </li></ul>
  10. 10. Think about this… <ul><li>What goods made in foreign countries do you usually enjoy? </li></ul>
  11. 11. Free Trade <ul><li>Trade between nations without trade barriers </li></ul><ul><li>(tariffs, quotas, and embargos) </li></ul>

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