Section 2
International Trade Barriers
By Boundless
Trade barriers are government-induced restrictions on international trade, which generally decrease overall economic efficiency.
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Despite international trading laws and declarations, countries continue to face challenges around ethical trading and business practices.
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It is typically more difficult to do business in a foreign country than in one's home country due to cultural barriers.
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Standards-related trade measures, known in WTO parlance as technical barriers to trade play a critical role in shaping global trade.
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Some argue that imports from countries with low wages has put downward pressure on the wages of Americans and therefore we should have trade barriers.
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Economists generally agree that trade barriers are detrimental and decrease overall economic efficiency.