Identify the one which is a "barrier" in foreign trade:

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Sales tax

Property tax

Import tax

Income tax

answer is C.

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Detailed Solution

An import tax is a "barrier" in foreign trade.
An import tax is the tax imposed by the government on the import of goods. In India, the government of India imposed quotas and tariff restrictions on foreign goods. This has been done to reduce foreign goods in the market as well as reduce competition within the domestic boundaries of the country. The government of India also imposed an import substitution policy that was aimed at replacing the goods produced outside the economy with those produced within the country. Nowadays, schemes and movements like use made in India, vocal for local, etc. are introduced with the same objective.

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