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A tariff is a tax imposed by a government on goods and services imported from other countries. Tariffs are used to restrict trade, as they increase the cost of imported goods and services, making them less attractive to domestic consumers.

A quota is a limit on the quantity of a good that can be imported or exported. Quotas are used to protect domestic industries from foreign competition by restricting the amount of goods coming into a country.

A subsidy is a financial contribution granted by a government to a domestic industry. Subsidies help reduce the production costs of businesses, making their goods cheaper on the international market and more competitive.

Dumping occurs when a company exports a product at a price lower than the price it normally charges on its own home market. This practice is sometimes viewed as a form of predatory pricing that can lead to unfair competition and is often subject to trade remedies.

A trade deficit happens when a country's imports exceed its exports over a certain period. This situation indicates that a country is buying more goods from abroad than it is selling.

A trade surplus occurs when a country's exports exceed its imports over a certain period. This indicates that a country is selling more goods to other countries than it is buying from them.

Most-Favored-Nation is a principle in which a country promises to give any concessions, privileges, or immunities granted to one nation in a trade agreement to all other World Trade Organization member countries.

Countervailing duties are tariffs levied on imported goods to offset subsidies made to producers of these goods in the exporting country. These duties are imposed to level the playing field for domestic producers.

A Free Trade Agreement is a pact between two or more nations to reduce barriers to imports and exports among them. Under a free trade policy, goods and services can be bought and sold across international borders with little to no tariffs, quotas, subsidies, or prohibitions to inhibit their exchange.

A trade embargo is a governmental order to restrict trade with a particular country or group of countries. Embargoes are usually imposed for political, economic, or social reasons and can have significant effects on the targeted country.

Non-tariff barriers are trade barriers that restrict imports or exports of goods or services through mechanisms other than the simple imposition of tariffs. Examples include quotas, embargoes, sanctions, levies, and other restrictions.

Customs duty is a tariff or tax imposed on the import and export of goods in international trade. This duty is levied by the customs authority of a country and contributes to the national revenue.

The exchange rate is the value of one currency for the purpose of conversion to another. It's the price at which the currency of one country can be converted into the currency of another country and plays an essential role in international trade.

Trade Adjustment Assistance is a federal program providing aid to workers who lose their jobs or whose hours of work and wages are reduced as a result of increased imports. TAA offers a variety of benefits and services to support these workers.

Comparative advantage is the economic theory that countries should specialize in producing goods and services where they have a lower opportunity cost than other countries. This leads to increased efficiency and can benefit all countries involved in trade.

Trade sanctions are penalties imposed by one country onto one or more other countries to stop or slow trade. These can include tariffs, trade barriers, import duties, and import or export quotas.

A trade barrier is any government policy or regulation that restricts international trade. Trade barriers can take the form of tariffs, quota restrictions, and a variety of other government regulations designed to allow fair competition between imports and domestic goods and services.

Protectionism refers to government actions and policies that restrict or restrain international trade, often with the intent of protecting local businesses and jobs from foreign competition. This can materialize in high tariffs, import quotas, and a variety of other restrictive regulations.

Trade facilitation refers to the simplification, modernization, and harmonization of export and import processes. It aims to reduce trade costs and increase efficiency by improving the procedures governing the movement of goods across international borders.