1. Restrictions of Imports
• Tariffs – are taxes based primarily on the value of imported goods and services. For example, Thai gov. put tax on Tobacco (from 85 to 90%) and also taxes 1 Baht for each tobacco. This is the policy against Chinese tobacco price, which is cheaper than others.
• Quotas – are restrictions on the number of foreign products that can be imported.
• Nontariff barriers – consist of a variety of measures such as testing, certification, or simply bureaucratic hurdles that have the effect of restricting imports. All of these measures tend to raise the price of imported goods. They therefore constitute a transfer of funds from the buyers of imports to the government, and – if accompanied by price increases of competing domestic products – to the domestic producers of such products.
• Voluntary restraint agreements – are designed to help domestic industries reorganize, restructure, and recapture production prominence. Even though officially voluntary, these agreements are usually implemented through severe threats against trading partners. Due to their “voluntary” nature, the agreements are not subject to any previously negotiated bilateral or multilateral trade accords.
• Anti-dumping laws are tariffs imposed on imports. It is designed to help domestic industries that are injured by unfair competition from abroad due to products being “dumped” on them. Dumping may involve selling goods overseas at prices lower than those in the exporter’s home market or at a price below the cost of production or both.