of 3 1:30 es Governmental intervention in trade is well known. When governments impose trade restrictions, it affects global trade and typically the cost of the traded goods increases. Many economists agree that such barriers impact trade and reduce economic efficiency. Read the case below and answer the questions that follow. Starting in 2014, trade between Russia and the United States became stifled. Both countries imposed sanctions and tariff barriers, resulting in reduction in trade between the two countries. U.S. companies faced a number of tariff and non-tariff trade barriers when exporting to Russia. Nearly all U.S. food and agricultural exports were banned by the Russian government. Similarly, the United States banned many Russian products, and U.S. companies also cited technical regulations and related product testing and certification requirements for the majority of imported goods. In addition, restrictions in information technology made it more difficult for U.S. technology companies to export goo