Question

The European Union (EU) has been importing beef from the U.S. for decades, but over the last decade the U.S. has ramped up its genetically modified beef program. There has been not enough testing on the effects of this change to cows over a significant length of time so the EU now bans the import of beef from the U.S. What is this an example of with regards to protectionism?

Answer 1

Answer:

A value quota barrier.

Explanation:

Protectionism is defined as the act of restricting the imports made from another nation by the use of methods like tariffs, import quotas, and other government regulations.

A value quota is imposed in a trade trade deal to restrict or stop the volume of trade between two countries.

This decision is driven by various reasons. In this scenario it is the concern about genetically modified beef from the United states.