Trade Barriers

Taxes on goods being exported from
or imported to a country.

On a side note: Because of tariffs,
goods and services are more expensive
and thus, are a way of earning profit, as well.

Example: As shown in the image, cloth made in Britain that costed $4.00, when exported to the US, costs $5.00 after a 25% tariff of $1.00 is added.

A ban or prohibition of trade, ordered
by a government, with other countries

Example: Canada has imposed sanctions/embargoes
against countries such as Belarus, Yemen, Iran, Iraq,
South Sudan etc.

The changes in a currency's value when
compared to another currency value

Example: The value of the Canadian dollar has been fluctuating (dropping) compared to the US dollar. Not long ago, 1 Canadian dollar used to be equal to $0.98 in US currency but has now dropped down to $0.76.

The total cost of a product once it has arrived at the buyer's doorstep. The landed cost includes the original price of the product, the transportation fees, customs, taxing, handling fees etc.

Example: Products are often imported by boat,with
that, there are fees to be paid for example, firstly the original price of the goods being traded, secondly the cost of shipping those goods, thirdly the taxes and so on.

Regulations that set up the
health and safety standards for
imported goods

Example: Every imported good has nutrition facts
that are looked upon to be informed of
ingredients being used inside the product.

Before the purchase of a specific product,
there will be excise tax (indirect tax). The
product will be taxed beforehand.

Example: An example of this would be gasoline.
Each litre of gasoline has gasoline tax
added. Ontario has 10.0 cents federal
excise tax added.

A business or organization that is helped
out by the government keeping the prices
or services low.

Example: The farming industry is helped out by the
government giving out cash subsidies.This
helps farms sell at a low market price, and
manage to obtain income.