Definition
Barriers to trade
A barrier to trade is anything that makes it harder to trade goods and services across borders.
Barriers to trade can be financial like tariffs; or technical such as laws, regulations, standards, and testing and certification procedures.
Free trade agreements exist to reduce or eliminate trade barriers. They help create an open and competitive international marketplace.
More about barriers to trade
The World Trade Organization (WTO) has had a significant impact in reducing trade barriers among its members, of which Canada is one. Even so, entrepreneurs need to do careful research about barriers to trade with WTO members as some countries protect their domestic markets and industries through the creative use of trade barriers.