viðskiptahindrun

viðskiptahindrun is an Icelandic term that translates to "trade barrier" in English. It refers to any government regulation, policy, or practice that restricts or impedes international trade. These barriers are typically implemented to protect domestic industries, generate revenue, or for political reasons.

Common types of viðskiptahindrun include tariffs, which are taxes imposed on imported goods, making them more expensive for consumers and thus favoring domestically produced alternatives. Quotas are another form of restriction, setting a limit on the quantity of a particular good that can be imported. Non-tariff barriers encompass a wider range of measures, such as complex customs procedures, stringent product standards that foreign goods may not meet, and subsidies for domestic producers that give them a competitive advantage.

The purpose of imposing viðskiptahindrun can vary. Governments might use them to safeguard nascent industries from established foreign competitors, to protect jobs in sensitive sectors, or to respond to perceived unfair trade practices by other nations. However, these barriers often lead to higher prices for consumers, reduced consumer choice, and can provoke retaliatory measures from other countries, escalating into trade disputes. International organizations like the World Trade Organization (WTO) aim to reduce and eliminate such trade barriers to promote free and fair global commerce.