Trade barriers are used by developed and developing countries as a mechanism to protect their economies....

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Economics

Trade barriers are used by developed and developing countries asa mechanism to protect their economies. Explain at least two typesof trade barriers that apply to developed and developing countries?What are some of the advantages and disadvantages of tradebarriers? Which of the barriers you mentioned are more effectivefor developing and developed countries and why? (100 wordsminimum)

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Tariffs Tariff is one of the most used for trade barriers because it raises the cost of the products and services imported Tariffs are used mainly to collect the taxes on the manufactured products Tariffs are used mostly for several reasons the barriers to trade are usually used to protect domestic workers Foreignmarket imports boost competition with domestic demand Despite of cheap foreign labor and lack of regulations most domestic consumers purchase products other than domestic production Compared to domestic See Answer

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