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Explain what is meant by the term "barriers to trade;" use examples

   
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Title: Explain what is meant by the term "barriers to trade;" use examples
 
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Subject: Business
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Date: June 6, 2006
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As we can see, the new value of imports is significantly lower, due to higher international prices. Domestic producers benefit from this, as those who could not compete with the previous world producers now can. However, domestic consumers are likely to lose out as higher prices will lower real income...
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World producers lose out as less goods are being imported. Those domestic producers who are dependent on the good in question will incur higher costs of production ? e.g. if a tariff is placed on steel, those manufacturers who are dependent on steel are now paying a higher price for steel, meaning they are receiving lower profits...
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