Question

There are seven main instruments used in trade policy with __________ being the oldest and the simplest. Group of answer choices local content requirements

Answer 1

There are seven main instruments used in trade policy with local content requirements being the oldest and the simplest.

What is Trade policy?

Trade policy is used by government in terms of trade. It is known known to be one that uses seven main instruments They are:

• Tariffs
• Subsidies
• Import quotas
• Local content requirements and others.

Tariffs are known to be the oldest and simplest tool of trade policy.

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