IntroductionInternational trade is about why countries import and export goods and the barriers to trade and many different trade measures and barriers have been removed and explains that certain economic factors must be protected. When foreign trade is not greatly changed, government spending and taxes, like most headlines, have aroused the blood of some people in economics. Exports and imports will affect livelihoods and lifestyle. These people are very anxious, but they worry about their personal lifestyle. Economists generally believe that foreign trade will take place almost in a free world market and that a lot of people will have done a lot of good. Forms of restrictions on international trade Free trade is the elimination of barriers to international trade. Then it is very important in international trade. There are certain types of trade barriers: customs, customs valuation, non-tariff barriers and quotas. PricesThe price is based entirely on import tax. They are just like any other tax job. The customs duty is added to the price of imported goods. The resulting price of imports will be higher, this will reduce the amount of purchases. If reducing import purchases, then more internal production and sales. Tariffs are typically applied if domestic producers attempt to convince policymakers to compensate foreign producers who gain unfairly due to low-wage dumping behavior abroad, competitive advantage, or reduced production. cost. However, customs duties are applied as a general means of restricting imports. A customs duty is a trade barrier option because the tax is paid into the public treasury. Not only to protect local producers from commercial advantage, but also additional tax revenue, government revenue, ...... middle of paper ...... anyway. Conclusion Now that we have studied the impact of foreign and local trade on the economy, there are many major circumstances to observe and consider when trading with other countries and industries in this world. When running an international business, the markets are unlimited and so are the chances of reaching another level in this world.References1. Welch, PJ and Welch, GF (2004). Economics: Theory and Practice, 7th ed., JohnWiley and Sons.2. Parkin, M (1993). Economics, 2nd ed., United States: Addison-Wesley Longman3. Hall, R.E. and Lieberman, M. (2006). Economics: Principles and Applications, 3rd ed., Thomson South-Western.4. Hyman, D.N. (1993). Modern Microeconomics: Analysis and Applications, 3rd ed., USA: Irwin.5. Case, KE and Fair, RC (2004). Principles of Economics, 6th ed., New Jersey: Pearson Education Asia.