Other trade barriers include quotas, licenses, and standardization, all seeking to make foreign goods more expensive or available in a limited supply. In simplest terms, a tariff is a tax.

Non-tariff trade barriers have both benefits and drawbacks that affect economies, businesses and consumers. From helping to protect domestic businesses and whole industries to increasing costs for ...

Fact checked by Yarilet Perez Reviewed by Robert C. Kelly What Are Tariffs? Tariffs are a type of trade barrier that makes ...