Which of the following expressions amount to the import restriction measures ? (i) Currency control (ii) Establishment of EPZs (iii) Tariff cuts (iv) Imposition of tariffs (v) Imposition of non-tariff barriers Codes :
(i), (iv) and (v)
Currency (exchange) control restricts the foreign exchange available to importers, directly limiting imports. So statement (i) is an import restriction measure.
Export Processing Zones are enclaves with liberal rules created to promote exports; they are export-promotion measures, not import restrictions. So statement (ii) does not qualify.
Tariff cuts lower import duties and make imports cheaper, which liberalises trade rather than restricting it. So statement (iii) does not qualify.
Imposition of tariffs raises the price of imported goods, and non-tariff barriers such as quotas, licensing, standards and import deposits restrict quantities or access. So statements (iv) and (v) are import restriction measures.
Hence, (i), (iv) and (v).
Similar Questions
A practice of selling a commodity in a foreign market at a price lower than the domestic price; and even at equal to the cost of production to capture foreign market is known as :
Duty levied on the value of goods imported is referred to as
In international trade which of the following is a non-tariff trade barrier ?
Important Questions from Government intervention in international trade
Which one of the following non-tariff barriers is to be adequately addressed by India while signing FTA with any country that has potential to import fruits, vegetables and other plant-based products from India?
Quotas which are the quantitative restrictions on exports/imports intended at protecting local industries and conserving foreign exchange, include which of the following?
(A) Single stage quota
(B) Absolute quota
(C) Tariff quotas
(D) Value added quotas
(E) Voluntary quotas
Choose the correct answer from the options given below:
A practice of selling a commodity in a foreign market at a price lower than the domestic price; and even at equal to the cost of production to capture foreign market is known as :
Duty levied on the value of goods imported is referred to as
In international trade which of the following is a non-tariff trade barrier ?
