Protectionism

Promoting free trade

Encouraging international cooperation

Restricting imports through trade barriers

Promoting global economic growth

Tariffs

Subsidy

Free trade

Cooperative advantage

A payment made by foreign government

Financial incentives for domestic producers

Tax on imports

A trade agreement

Lower domestic prices for consumers

Increase competition in the global market

Protect domestic industries from foreign competition

Promote efficient allocation of resources

Trade surplus

Quota

Tariff

Subsidy

Boosting domestic industries

Encourage international cooperation

Reduced consumer choices and higher prices

Promoting global economic growth

Encouraging imports

Stimulating domestic production

Reducing domestic employment

Promoting global competition

Consumer has to pay higher prices

Consumer has to pay lower prices

Tariffs only affect luxury goods

Tariffs have no effect on consumers

The exporting country

The importing country

Both the importing and the exporting countries

Neither the importing nor the exporting country

Encourage export subsidies

Promote free trade

Generate government revenue

Restrict the imports