Question

Discuss the tariff and non - tariff barriers of foreign trafe

Answer 1

a barrier to trade between certain countries or geographical areas which takes the form of abnormally high taxes levied by a government on imports or occasionally exports for purposes of protection, support of the balance of payments, or the raising of revenue.




Non-tariff barriers to trade (NTBs) or sometimes 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. The SADC says, "a Non-Tariff Barrier is any obstacle to international trade that is not an import or export duty. They may take the form of import quotas, subsidies, customs delays, technical barriers, or other systems preventing or impeding trade."[1] According to the World Trade Organisation, non-tariff barriers to trade include import licensing, rules for valuation of goods at customs, pre-shipment inspections, rules of origin ('made in'), and trade prepared investment measures.[2]



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Answer 2

$\huge\bf\green{\mid{\overline{\underline{ANSWER}}}\mid}$

$\huge\red{{\mathcal{TARRIF\: BARRIERS}}}$

➜ It refers to the taxes imposed on the imports by a country for providing protection to its domestic industries .

➜ Tarrif barriers are allowed by World Trade Organisation to be imposed by its member countries, though at reasonable rates .

➜ Tariff barriers are more explicit.

$\huge\blue{{\mathcal{NON\: TARRIF\: BARRIERS}}}$

➜ It refers to the restrictions other than taxes, imposed on imports by a country for providing protection to its domestic industries .

➜ Non tariff barriers like import quotas and voluntary export restrainsts are now abolished under WTO regime.

➜ Non tariff barriers such as monetary conditions and Labour issues are not that explicit .