Trade Protectionism - Major Instruments of Trade Control - Nontariff Barriers: Quantity Controls

4 important questions on Trade Protectionism - Major Instruments of Trade Control - Nontariff Barriers: Quantity Controls

What is a quota?

A quota limits the quantity of a product that can be imported or exported in a given time frame

Why is the term voluntary export restraint conflicting?

Because it is drive by the threat of other trade restrictions

Other types of trade barriers include:

- Arbitrary standards
- importing, exporting, and currency licensing
- administrative delays
- reciprocal requirements
- services restrictions
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Four main reasons why trade in services is restricted are:

- essentiality
- preference for not-for-profit operations
- Different professional standards
- Immigration

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