Import Quotas

Import quotas are limits set by a country on the quantity or value of specific goods that can be imported within a set period, aimed at protecting domestic industries from foreign competition.

Examples of goods often subject to import quotas include steel, textiles, dairy products, and vehicles.

The United States, European Union, and China frequently implement import quotas to safeguard their markets.

Countries use import quotas to control market saturation, support local businesses, and stabilize their economies.

Import quotas prevent overreliance on foreign products by encouraging the consumption of domestically-produced goods.

Governments monitor and adjust import quotas based on economic conditions, trade agreements, and industry needs.