Tariff barriers are a type of trade barrier that refers to taxes imposed by a government on imports or exports of goods. Tariffs raise the price of imported goods relative to domestic goods, which reduces imports. Tariffs are paid by domestic consumers and not the exporting country, but they have the effect of raising the relative prices of imported products. Other types of trade barriers include quotas, licenses, and standardization, all seeking to make foreign goods more expensive or available in a limited supply. Non-tariff barriers to trade include import licenses, export control/licenses, import quotas, subsidies, voluntary export restraints, local content requirements, embargo, currency devaluation, and trade restrictions. Trade barriers are government-induced restrictions on international trade, and they are detrimental to the world economy and decrease overall economic efficiency.