Explanations + Extra Activities
15 Key Words to Understand the Trade War
1. Import
Meaning: To bring goods into your country from another country.
Examples:
- Japan imports a lot of food from other countries.
- We imported coffee from Brazil.
2. Export
Meaning: To send goods from your country to another country.
Examples:
- Canada exports wood and oil.
- The company exports cars to Europe.
3. Customs
Meaning: The place at a border or airport where people check goods coming into a country.
Examples:
- We had to go through customs at the airport.
- Customs officers checked our bags for illegal items.
4. Duty
Meaning: A tax paid on goods that are brought into a country.
Examples:
- I had to pay a duty on the laptop I bought overseas.
- The duty made the product more expensive.
5. Tariff
Meaning: A tax on imports or exports.
Examples:
- The U.S. put high tariffs on Chinese steel.
- Tariffs can make foreign goods more expensive.
6. Quota
Meaning: A limit on the number or amount of goods that can be imported.
Examples:
- There is a quota on how much rice can be imported.
- The quota helps protect local farmers.
7. Ban
Meaning: A rule that says something is not allowed.
Examples:
- There is a ban on importing plastic waste.
- The country banned the sale of foreign meat.
8. Boycott
Meaning: To stop buying or using products from a country or company as a protest.
Examples:
- People boycotted the brand after the scandal.
- The country boycotted imported cars.
9. Embargo
Meaning: A government order that stops trade with another country.
Examples:
- There is an embargo on goods from North Korea.
- The embargo stopped all exports and imports.
10. Sanction
Meaning: A punishment used in international politics, often by stopping trade.
Examples:
- The U.N. placed sanctions on the country.
- Sanctions were used to stop the war.
11. Smuggle
Meaning: To bring goods into or out of a country secretly and illegally.
Examples:
- He was caught trying to smuggle gold.
- People smuggle cigarettes to avoid paying taxes.
12. Trade barrier
Meaning: A rule or law that makes international trade harder.
Examples:
- High taxes are a trade barrier.
- Removing trade barriers can help the economy.
13. Protectionism
Meaning: When a country protects its own businesses by limiting imports.
Examples:
- Protectionism can help local jobs.
- The government used protectionism to support farmers.
14. Retaliation
Meaning: Doing something in return, often as revenge. In trade, it means answering one country’s tariff with your own.
Examples:
- The country raised tariffs in retaliation.
- Retaliation can lead to a trade war.
15. Trade agreement
Meaning: A deal between countries to make trade easier.
Examples:
- The two countries signed a trade agreement.
- Trade agreements lower tariffs and help business.
Extra Activities!
International Trade Vocabulary Quiz (Scroll down for the answers)
1. A ______ is being negotiated to reduce taxes and improve business between the two nations.
a) tariff
b) trade agreement
c) sanction
d) boycott
2. The country imposed a high ______ on imported electronics to protect local businesses.
a) quota
b) embargo
c) tariff
d) smuggle
3. The U.S. decided to ______ goods from a country accused of human rights abuses.
a) export
b) ban
c) import
d) trade
4. Farmers were angry after the government lifted the ______ on foreign milk.
a) quota
b) customs
c) sanction
d) boycott
5. The company was fined for trying to ______ rare goods into the country.
a) embargo
b) import
c) smuggle
d) export
6. A long-standing ______ between the two countries finally ended, allowing trade to resume.
a) sanction
b) embargo
c) duty
d) retaliation
7. To show protest, many people started a ______ of goods made in that country.
a) ban
b) duty
c) quota
d) boycott
8. The government introduced new ______ on steel imports to reduce foreign competition.
a) smuggles
b) customs
c) tariffs
d) exports
9. Many nations placed economic ______ on the country to pressure it into changing its actions.
a) exports
b) customs
c) sanctions
d) trade agreements
10. A ______ is when a country limits how many goods can be brought in from abroad.
a) tariff
b) quota
c) duty
d) embargo
11. A ______ is a kind of punishment used in trade, often in response to unfair treatment.
a) retaliation
b) trade agreement
c) import
d) customs
12. Some governments support ______ to protect local jobs from foreign competition.
a) export
b) protectionism
c) embargo
d) quota
13. After the first country raised tariffs, the second country responded with ______.
a) boycott
b) smuggling
c) retaliation
d) duty
14. Goods entering a country are checked at ______ to make sure all laws are followed.
a) customs
b) trade agreement
c) embargo
d) quota
15. A country may place a ______ on harmful products like certain chemicals.
a) trade agreement
b) boycott
c) ban
d) tariff
Answer Key with Full Sentences
- b) trade agreement – A trade agreement is being negotiated to reduce taxes and improve business between the two nations.
- c) tariff – The country imposed a high tariff on imported electronics to protect local businesses.
- b) ban – The U.S. decided to ban goods from a country accused of human rights abuses.
- a) quota – Farmers were angry after the government lifted the quota on foreign milk.
- c) smuggle – The company was fined for trying to smuggle rare goods into the country.
- b) embargo – A long-standing embargo between the two countries finally ended, allowing trade to resume.
- d) boycott – To show protest, many people started a boycott of goods made in that country.
- c) tariffs – The government introduced new tariffs on steel imports to reduce foreign competition.
- c) sanctions – Many nations placed economic sanctions on the country to pressure it into changing its actions.
- b) quota – A quota is when a country limits how many goods can be brought in from abroad.
- a) retaliation – A retaliation is a kind of punishment used in trade, often in response to unfair treatment.
- b) protectionism – Some governments support protectionism to protect local jobs from foreign competition.
- c) retaliation – After the first country raised tariffs, the second country responded with retaliation.
- a) customs – Goods entering a country are checked at customs to make sure all laws are followed.
- c) ban – A country may place a ban on harmful products like certain chemicals.
International Trade Vocabulary – Quiz 2
1. When a country refuses to trade completely with another country, it’s called an ______.
a) export
b) embargo
c) quota
d) tariff
2. A ______ is a limit on the number of products that can be imported.
a) sanction
b) boycott
c) quota
d) duty
3. The U.S. government placed a 10% ______ on imported aluminum.
a) smuggle
b) tariff
c) embargo
d) customs
4. The activist group urged people to join a ______ of fast fashion brands.
a) ban
b) trade agreement
c) boycott
d) retaliation
5. A ______ is made when countries decide to cooperate and reduce trade restrictions.
a) trade agreement
b) sanction
c) quota
d) duty
6. After one country raised tariffs, the other country answered with ______.
a) embargo
b) export
c) retaliation
d) customs
7. ______ is the act of secretly bringing goods into a country to avoid taxes or bans.
a) Duty
b) Protectionism
c) Smuggle
d) Boycott
8. Goods are usually checked and taxed at the ______ when entering a country.
a) customs
b) embargo
c) quota
d) tariff
9. A ______ is a tax paid on imported or exported goods.
a) duty
b) sanction
c) trade agreement
d) quota
10. ______ is the practice of defending domestic industries by limiting foreign competition.
a) Trade barrier
b) Protectionism
c) Retaliation
d) Export
11. The country announced a total ______ on certain types of plastic waste.
a) import
b) ban
c) quota
d) embargo
12. A ______ can include taxes, limits, or bans to slow down international trade.
a) trade agreement
b) trade barrier
c) duty
d) export
13. Countries sometimes place ______ on others to punish them for political reasons.
a) sanctions
b) customs
c) exports
d) tariffs
14. Products made in this country are ready to ______ around the world.
a) embargo
b) import
c) export
d) smuggle
15. Many countries want to lower ______ so that prices of imported goods decrease.
a) sanctions
b) tariffs
c) quotas
d) bans
Answer Key (Full Sentences)
- b) embargo – When a country refuses to trade completely with another country, it’s called an embargo.
- c) quota – A quota is a limit on the number of products that can be imported.
- b) tariff – The U.S. government placed a 10% tariff on imported aluminum.
- c) boycott – The activist group urged people to join a boycott of fast fashion brands.
- a) trade agreement – A trade agreement is made when countries decide to cooperate and reduce trade restrictions.
- c) retaliation – After one country raised tariffs, the other country answered with retaliation.
- c) smuggle – Smuggle is the act of secretly bringing goods into a country to avoid taxes or bans.
- a) customs – Goods are usually checked and taxed at the customs when entering a country.
- a) duty – A duty is a tax paid on imported or exported goods.
- b) protectionism – Protectionism is the practice of defending domestic industries by limiting foreign competition.
- b) ban – The country announced a total ban on certain types of plastic waste.
- b) trade barrier – A trade barrier can include taxes, limits, or bans to slow down international trade.
- a) sanctions – Countries sometimes place sanctions on others to punish them for political reasons.
- c) export – Products made in this country are ready to export around the world.
- b) tariffs – Many countries want to lower tariffs so that prices of imported goods decrease.