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Trade barriers are government-induced restrictions on international trade. [1] According to the theory of comparative advantage , trade barriers are detrimental to the world economy and decrease overall economic efficiency .
Non-tariff barriers to trade (NTBs; also called non-tariff measures, NTMs) are trade barriers that restrict imports or exports of goods or services through mechanisms other than the simple imposition of tariffs. Such barriers are subject to controversy and debate, as they may comply with international rules on trade yet serve protectionist ...
The memo defines a non-tariff barrier as "any government-imposed measure or policy or non-monetary barrier that restricts, prevents, or impedes international trade in goods, including import ...
(b) "Nontariff barrier" or "measure" means any government-imposed measure or policy or nonmonetary barrier that restricts, prevents, or impedes international trade in goods, including import ...
Technical barriers to trade (TBTs), a category of nontariff barriers to trade, are the widely divergent measures that countries use to regulate markets, protect their consumers, or preserve their natural resources (among other objectives), but they also can be used (or perceived by foreign countries) to discriminate against imports in order to protect domestic industries.
(b) "Nontariff barrier" or "measure" means any government-imposed measure or policy or nonmonetary barrier that restricts, prevents, or impedes international trade in goods, including import ...
Therefore, a trade war does not cause a recession. Furthermore, in his view, the Smoot-Hawley tariff did not cause the Great Depression and that the decline in trade between 1929 and 1933 "was almost entirely a consequence of the Depression, not a cause. Trade barriers were a response to the Depression". [40]
After World War II, the United States pushed for other countries to lower trade barriers and tariffs, seeing free trade as a way to promote peace, prosperity and American exports around the world ...