By Damali Ssali. There are several factors that influence the value and volume of trade. However, tariffs on tradeable goods and services are one of the most significant factors. International trade grew dramatically in the second half of the 20th century. As an example, total global trade in 2000 was 22 times greater than it had been 1950. This increase in multilateral international trade occurred when trade barriers, especially tariffs, were significantly reduced or in some cases eliminated across large trade blocks in Asia, America and Europe. Tariffs are taxes levied on imports and exports between states with the aim…
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