What To Look Out For When Trading Internationally

By Nandini Choudhary, REDI Intern You are an American entrepreneur looking to trade internationally. There are many considerations that come into play when deciding upon which countries and markets to enter, including the culture and consumer habits of that nation, the laws and regulations, as well as the currency risk, to name a few. And then there is the big one that can make or break your ability to penetrate the market of the foreign country. Trade barriers. International trade faces the biggest risk on account of trade barriers imposed against imports. Every country, including the United States, has its own specific trade barriers that are put in place to encourage citizens to buy domestic over foreign. This method protects national producers from foreign competition, effectively shielding them from losing too much business. So what exactly are these trade barriers, and how can you identify the forms in which they…

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