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Question
Discuss barriers to trade, using examples to illustrate your points.
Barriers to trade may be divided into tariff barriers and nontariff barriers. Tariff barriers are import duties whose primary purpose is to raise the selling price of the import in the importing country's market. This reduces competition for domestic producers. Countries may also use tariffs to raise revenue on both imports and exports. Tariffs may vary depending on local content and also relative to the good's selling price in the importing market. Nuisance tariffs are tariffs imposed for their administrative hassle rather than to affect market price.
Answer
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