When does a country become an exporter of a good? An importer? List at least five arguments often given to support trade restrictions. How do economists respond to these arguments?

A country becomes an exporter when its goods are sold to other foreign countries. Similarly, when goods from other foreign countries are purchased it becomes an importer. In simpler terms, selling-out means to export and buying-in means import. A country's trade economic status is determined by its mere balance in export and import. It is a trade 'deficit' when the values of goods imported are more than the value of goods exported. Maintaining this to sustain economic stability is called Balance Of Trade (BOT).

Explanation:

Trade restrictions or barriers are laid down by countries to protect their citizens as consumers and beneficiaries of its economy.

Trade retractions ensure the quality of goods being brought into the country.

It protects the local market from being exploited by the foreign market.

A tariff / tax is levied on imported foreign goods to persuade people to buy goods produced locally that are also less expensive.

Some economists believe that foregoing trade restrictions will encourage countries to produce a better quality of goods failing which consumers may choose to buy imported goods.