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Definition: A sum of money granted by the government to assist an industry or business so that the price of a commodity or service may remain low or competitive.

Example 1: If a government sends monetary assistance that reimburses 15% of all health expenditures to a group that is paying 15% income tax.

Example 2: Walmart receives an estimated $6.2 billion annually in mostly federal taxpayer subsidies.

More Examples: Boeing, Tesla, Nike, Intel, Nissan, etc.

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Definition: A fixed share of something that a person or group is entitled to receive or is bound to contribute.

Example 1: China sets a quota system under which independent refiners are given a certain volume to import oil in several allowances each year.

Example 2: Japan imposes import quotas and/or import licenses for specific items such as firearms, chemical weapons, silk, grains and products originating from certain countries.

More Examples: Sugar, Cotton, Beef, Dairy Products, etc.

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Definition: Commercial and financial penalties applied by one or more countries against a targeted self-governing state, group, or individual.

Example 1: US Embargo Act of 1807 closed U.S. ports to all exports and restricted imports from Britain.

Example 2: 1958 US Embargo of Cuba exports

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Definition: A tax or duty to be paid on a certain class of imports or exports

Example 1: Smoot-Hawley Tariff imposed a tariff on imported agricultural products

Example 2: Fordney-McCumber Tariff imposed a tariff on several different imported goods

More Examples: Clothing, Cars, Footwear, etc.

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Definition: A wide-ranging tax, tariff, and trade treaty that often includes investment guarantees between countries or states.

Example 1: North American Free Trade Agreement (NAFTA)

Example 2: Central American-Dominican Republic Free Trade Agreement (CAFTA-DR)

Example 3: EU-Canada Free Trade Agreement

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Definition: A partial or complete prohibition of commerce and trade with a particular country, state, or group of countries.

Example 1: In 2006, the United Nations imposed sanctions on North Korea in response to its first nuclear test. The sanction prohibited the supply of heavy weapons, luxury items, oil and metal imports, etc.

Example 2: In 1941, the same year that they joined World War II, the United States imposed a comprehensive trade embargo on Japan which led to a loss of 88% of Japan's oil imports.