Our world is becoming smaller and smaller: boundaries are erased from the maps, countries cooperate more intensively, and trade restrictions are falling away.

restrictions 是名词 restriction 的复数形式。restriction 由动词 restrict（限制）加上名词后缀 -ion 构成，意思是"限制、约束"。trade restrictions 指"贸易限制"，即对进出口商品或服务设置的各种障碍或规定。