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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 ...
Barriers take the form of tariffs (which impose a financial burden on imports) and non-tariff barriers to trade (which uses other overt and covert means to restrict imports and occasionally exports). In theory, free trade involves the removal of all such barriers, except perhaps those considered necessary for health or national security.
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.
Non-Tariff Barriers. Nowadays, for many products and many countries, non-tariff barriers to trade, such as technical regulations and standards, sanitary and phytosanitary measures, customs formalities and government procurement practices are becoming more important than customs duties or quantitative restrictions. [6]
Some examples of VERs occurred with automobile exports from Japan in the early 1980s and with textile exports in the 1950s and 1960s. Along with import quotas, Voluntary Export Restraints (VERs) are a form of a non-tariff trade barrier. Import quotas and VERs differ in two key areas, however.
Continue reading ->The post Tariffs: Definition, Examples, Issues and More appeared first on SmartAsset Blog. Tariffs, which are taxes placed on imports and exports between two countries, have ...
Peace economics – Branch of conflict economics; Trade Adjustment Assistance – US internal economic program; Trade bloc – Intergovernmental open trading group; Trade war – Economic conflict using tariffs or other trade barriers; Trade organizations. European Economic Area – European free trade zone established in 1994
Economic integration is the unification of economic policies between different states, through the partial or full abolition of tariff and non-tariff restrictions on trade. The trade-stimulation effects intended by means of economic integration are part of the contemporary economic Theory of the Second Best : where, in theory, the best option ...