Classification of Commercial Policy Instruments Commercial Policy Instruments Trade Contraction Trade Expansion Price Quantity Price Quantity Tariff Import quota Import subsidy Voluntary Export tax Voluntary Export subsidy Im port Export Expansion Restraint (VE) (VER) Copyright C 2003 Pearson Education, Inc Slide 8-5Copyright © 2003 Pearson Education, Inc. Slide 8-5 Classification of Commercial Policy Instruments Commercial Policy Instruments Trade Contraction Trade Expansion Tariff Export tax Import quota Voluntary Export Restraint (VER) Import subsidy Export subsidy Voluntary Import Expansion (VIE) Price Quantity Price Quantity