Trade barriers are an expensive and inefficient way to reach most of the goals for which they are used.

Question

Quizplus · Accepted Answer

Trade barriers such as tariffs, quotas, and other restrictions on imports and exports can increase costs for businesses and consumers, reduce competition, and limit innovation. They can also result in retaliation from other countries, leading to a trade war that harms global economic growth. Therefore, they are often considered an expensive and inefficient approach to achieving economic or political objectives.

Trade Barriers Are an Expensive and Inefficient Way to Reach