Non-tariff barriers (NTBs) are government measures that restrict international trade other than tariffs. These include:
- Quotas: A limit on the quantity of goods that can be imported or exported.
- Embargoes: A complete ban on the import or export of goods.
- Technical barriers to trade (TBTs): Regulations that set standards for the safety, health, or environmental impact of goods.
- Sanctions: Penalties imposed on a country for political or economic reasons.
- Voluntary export restraints (VERs): Agreements between an exporting country and an importing country that limit the quantity of goods that can be exported.
NTBs can have an important impact on international trade. They can raise the cost of goods, make it hard to get goods into or out of a country, and create uncertainty and instability for businesses.
There are several reasons why countries like the United States may use NTBs. It can help do things like:
- Protect domestic economies
- Achieve certain political or economic goals
- Promote national security
- Protect the environment
Related articles:
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Section 301 Tariffs: A Comprehensive Guide
