Question

<!--td {border: 1px solid #ccc;}br {mso-data-placement:same-cell;}--> Identify which of the following are trade barriers?

• A. Goods and Services Tax
• B. <!--td {border: 1px solid #ccc;}br {mso-data-placement:same-cell;}--> Import duties
• C. <!--td {border: 1px solid #ccc;}br {mso-data-placement:same-cell;}--> Export duties
• D. <!--td {border: 1px solid #ccc;}br {mso-data-placement:same-cell;}--> Income tax

Answer 1

Answer: (B), (C)

<!--td {border: 1px solid #ccc;}br {mso-data-placement:same-cell;}--> Export duties

<!--td {border: 1px solid #ccc;}br {mso-data-placement:same-cell;}--> Trade barriers are the trade policies designed to restrict international trade with other countries. Taxes on imports and exports discourages the trade between two or more nations. However, income tax is a tax on income earned and goods and services tax is tax imposed on goods and services purchased in India. Therefore, they does not have any implication on trade.