The 7 Trade Barriers

Tariffs

Tariffs are a type of tax on certain imports and exports for example to import vegetables from the USA, it's 3%.

Subsidies

Sum of money given by the government assisting businesses and industries so prices of commodities or services can stay low and or competitive.

Embargoes

Official ban on trade / commercial activity with another country.

Standards

An expectation made by an authoritative professional to deal with various issues under a wide variation of legislation. Making sure they don’t have any counterfeit items etc.

Currency Fluctuations

Natural outcome of the changing exchange rate. For example right now $1 Canadian is equivalent to 0.76 USD.

Excise Taxes

Tax on the sale, manufacture, or consumption of a particular product within a country. Taxes are meant to raise money but can also discourage people.

Landed Cost

Overall cost or total price of a shipment or product / imported item. If you buy an item from a non-Canadian site then you would have to pay a border tax.