Final answer:
In international trade, offering less-favorable exchange rates to certain importers is a non-tariff barrier, a form of protectionism used to restrict imports without tariffs or quotas.
Step-by-step explanation:
In the context of international trade restrictions, offering less-favorable exchange rates to certain importers falls under the category of non-tariff barriers. These are methods used to control the amount and value of trade between countries without the use of tariffs or quotas. Non-tariff barriers can take various forms, including stringent customs regulations, import licenses, and differential exchange rates that deliberately lower the value of foreign currencies in relation to the domestic currency, thereby making imports more expensive and less competitive.
Protectionism, which aims to protect domestic industries from foreign competition, encompasses three main trade restriction tools: tariffs (taxes on imported goods), import quotas (limits on the quantity of certain goods that may be imported), and non-tariff barriers (various restrictive regulations that impact trade). Each of these tools can artificially raise the price of imported goods, making them less attractive to domestic consumers and giving an advantage to local producers, but this may also lead to higher prices and limited choices for consumers.