Trade barriers are the restrictions that the government of a country imposes on its:

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Foreign Investment

Foreign trade

Both 1 and 2

None of the above

answer is B.

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Detailed Solution

Trade barriers are the restrictions that the government of a country imposes on its foreign trade. Sometimes, the government tries to regulate this trade by using some barriers to the buying and selling of foreign goods. These barriers are applied to protect domestic producers from foreign competition. Import tariffs and quota restrictions are two examples of trade barriers. The government imposes these restrictions to regulate trade and decide what kinds of goods should come into the country. The World Trade Organisation aims to liberalise world trade. It promotes free trade among countries without any trade barriers, but many developed countries still use trade barriers.

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