Trade Sanction

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Trade Sanction

One or more trade barriers that a country places upon another country as a punitive action. A country may institute a trade sanction because it disagrees with its trade policies; for example, if country A subsidizes domestic corn so that it reduces demand for country B's imports, country B may restrict the import of country A's wheat as punishment. Alternatively, a trade sanction may occur when two countries disagree on a more fundamental level. A trade sanction should not be confused with an economic sanction.
References in periodicals archive ?
Today, the World Trade Organization (WTO) authorized Mexico to impose an annual $163 million in trade sanctions against the U.S.
The US imposed economic and trade sanctions on Sudan in 1997 in response to its alleged connection to terror networks and human rights abuses.
TEHRAN (FNA)- Iran would be able to supply weapons to its allies in the region with the full blessing of the international community, because the nuclear deal being prepared in Vienna includes partial lifting of arms trade sanctions, a source close to the talks said, Russian media reported.
Trade sanctions will be eased only in a phased process after Tehran has demonstrated that it is implementing the deal's provisions.
Last month, France's largest bank, BNP Paribas, agreed to pay nearly $9 billion to resolve criminal allegations that it processed transactions for clients in Sudan and other blacklisted countries in violation of the United States trade sanctions. After months of negotiations, BNP admitted to violating US trade sanctions by processing billions of dollars in illegal transactions on behalf of clients in Sudan, Cuba and Iran.
New Delhi is furious about a threat of trade sanctions made by the US Trade Representative's (USTR) office over its protection of intellectual property rights, preference for domestic producers and non-trade barriers.
More than the Philippines, trade sanctions and penalties should have long been imposed on the US and EU since both of them-including our major trading partners-have hundreds of dispute cases between them," So said.
DUBAI: Renault SA is readying to resume the export of car parts to Iran pending "clarifications" on the easing of trade sanctions against the country, said Gilles Normand, chairman of the French automaker's Asia-Pacific region.
Government will follow the activation process for settlement of disputes referred to in Chapter 20 of the CAFTA trade agreement which could lead to the imposition of a fine and trade sanctions. This will be the first time this mechanism has been activated since the signing of CAFTA in 2006.
The move is the strongest sign yet that Brazil intends to take trade sanctions against Washington in the long-standing dispute over subsidies the U.S.
US President George W Bush warily welcomed North Korea's nuclear accounting yesterday, easing trade sanctions and moving to take the "axis of evil" nation off a US terrorism blacklist.
But with the WTO in place, the com mission now has the means to enforce its rulings through trade sanctions targeting uncooperative nations.