Which of the following should not be considered as an effective Trade…

The correct answer is Option (4) → Reduction in the taxes on individual incomes of tax payers **

Trade policy reforms are concerned with foreign trade, especially:

• Import–export regulations
• Tariffs and non-tariff barriers
• Licensing procedures

Let’s look at each option:

Reduction of Quantitative Restrictions – Directly promotes freer trade
Reduction of Tariff Rates – Encourages imports and global competitiveness
Removal of Import Licensing – Simplifies trade procedures
Reduction in individual income taxes – This is a fiscal policy measure, not a trade policy reform