Methods for protecting markets
There are also of course risks associated with innovation and enterprise.
Tariffs and tolls
Tariffs and tolls are the taxes imposed on goods entering a country. This makes them more expensive for customers to buy and therefore makes them less competitive compared to domestic goods.
Currency restrictions
This happens when governments try to control the value of their currency, in order to affect the price of goods they export to other countries.
Quotas
Quotas put a limit on the amount of goods that can be exported into a country. They are intended to prevent too many goods from flooding into the domestic market.
Subsidies
Subsidies are government payments to help the country's industries reduce their production costs. They can then be more competitive in foreign markets.
Legal restrictions
Different countries have different regulations regarding goods and services. For example, many goods require a CE mark in order to be sold in the EU. A CE mark indicates that a product has been assessed by the manufacturer and is deemed to meet EU safety, health and environmental protection requirements. It is required for goods produced anywhere in the world which are sold in the EU.
You can learn more about the CE mark here: