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Trade policy - Trade policy Concerns imports and exports of...

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Trade policy: Concerns imports and exports of goods and services. States control the goods and services that pass over their borders. Several ways to restrict imports. Most traditional is the tariff, which imposes a monetary tax on goods entering the country. This will increase the cost of the imported good (because the tariff will become part of the cost) and make the import less competitive. GATT talks have more or less reduced tariffs to very low levels. However, there are Non-tariff barriers that can be used to prevent imports. Quotas can be used to limit the number of imports entering a state. The Multi-Fiber Agreement was such an agreement that limited the number of textile products developing states could export to the developed world – basically, this is done to product domestic producers in the developed world. Anti-dumping restrictions – domestic companies can appeal to the government to impose anti-dumping duties on foreign goods if it is suspected that these goods are being sold below domestic production cost.
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