There are seven main instruments used in trade policy with ________ being the oldest and the simplest.
A) local content requirements
B) tariffs
C) subsidies
D) voluntary export restraints
E) import quotas

Question

Quizplus · Accepted Answer

Tariffs are the oldest and simplest form of trade policy, involving taxes imposed on imported goods to protect domestic industries and generate revenue.

There Are Seven Main Instruments Used in Trade Policy with ________