What is meant by "import quota"?

An import quota refers to a limit on the quantity of a particular good that can be imported into a country during a specific period. This trade restriction is implemented to protect domestic industries from foreign competition, manage the balance of trade, and sometimes to ensure the safety and quality of products entering the country. By setting a maximum limit on imports, governments aim to encourage the consumption of domestically produced goods, which can have various economic effects, such as stabilizing local markets and protecting jobs in local industries. In contrast, an export restriction, a tax on imported goods, or a trade agreement would not accurately describe the specific mechanism of restricting imports; thus, these options do not align with the concept of an import quota.