Discuss the various instruments of trade protection. Differentiate bet

Question

Discuss the various instruments of trade protection. Differentiate between quotas and tariffs.

29 Aug 2022

Answer :

Word Count : 457

Instruments of trade protection

Tariffs

Tariffs are taxes imposed on products imported to a country from abroad. Tariffs generate income for the government, that’s why they used to be the most popular form of trade protection. Tariffs can be specific or ad valorem. If a fixed amount of tax is imposed on each unit of the imported good we talk about a specific tariff. Ad valorem refers to the value ______ ____ _______ ____ ___ _____ _________ ________.
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