Regional Trade Blocking

There are many different types of trade restrictions some of the most common types of trade blocks are Tariffs, quotas, embargoes, local content requirements, administrative delays and currency controls.Tariffs are taxes placed on a product by the government as it enters or leaves a country. Quotas are the restriction of the amount of a good or product that is allowed to enter or leave a country. Embargoes are the ban on all trade in one or more products within a country (for example the ban of Cuban cigars and other products within the US). Local content requirements are laws that state, companies in the domestic market must supply a pre arrange amount of goods or services in that particular country. Administrative delays are controls or government rules that placed in order hinder the flow of imports into a country. Currency controls are restrictions put in place on the conversion of other currencies.