Requiring redtapeintensive import licenses for certain categories is an example of a(n):
A) embargo.
B) nontariff barrier.
C) tariff.
D) voluntary export restraint.

Question

​Requiring red­tape­intensive import licenses for certain categories is an example of a(n):
A) ​embargo.
B) ​nontariff barrier.
C) ​tariff.
D) ​voluntary export restraint.

Quizplus · Accepted Answer

Requiring import licenses is an example of a nontariff barrier, which is a form of trade restriction that does not involve the levying of additional taxes or duties on imports.

​Requiring Red­tape­intensive Import Licenses for Certain Categories Is an Example

Requiring Redtapeintensive Import Licenses for Certain Categories Is an Example