Final answer:
Nations may restrict trade despite its growth benefits to protect domestic industries, maintain jobs, address social and ethical concerns. International agreements can moderate domestic protectionism. Overall, the economic gains from reducing trade barriers surpass the losses.
Step-by-step explanation:
While the removal of trade barriers is generally seen as advantageous to international economic growth, there are several reasons why a nation may continue to impose restrictions on some products. These reasons include the protection of domestic industries and jobs from international competition, preventing the loss of income for local businesses and workers due to firms with better or cheaper products. Moreover, social and ethical considerations, such as ensuring the safety standards in production (as highlighted by the 2012 and 2013 Bangladeshi textile factory fires), can also lead to the maintenance of some trade barriers.
Additionally, international agreements can act as a counterbalance to domestic special interests and can prevent stronger protectionist measures. However, it's worth noting that on balance, the gains such as consumers getting access to better or less expensive products, businesses increasing their profits, and employees earning more—generally outweigh the losses to a nation that arise from reduced trade barriers.