The trade barriers will impact negatively and it will raise the amount of payment for the car significantly.
Trade Barriers:
- No matter how big or wealthy a nation is, its industrial industry will need to look outside its borders for raw materials.
- However, some nations continue to oppose free trade.
- Some leaders still feel that free trade is not best for their economies and that it negatively affects their growth and employment.
- Others provide justifications for putting up barriers to commerce.
Trade barriers for import of a car -
- Indian import taxes are high because the country promotes domestic and local industries.
- This is known as import substitution industrialization (ISI), a trade policy that focuses entirely on replacing import-based manufacturing and production with indigenous ones.
Therefore, the trade barriers will impact negatively and it will raise the amount of payment for the car significantly.
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