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    In recent years non-tariff barriers have gained in importance as a protectionist device. Describe and evaluate the major non-tariff trade barriers.

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    Non-Tariff Barriers

    Nations have used various non-tariff trade barriers which provide little in the way of transparency concerning their impacts. Nontariff barriers appear to be increasingly important and have not been effectively restricted through multilateral trade negotiations, including voluntary export restraints, international cartels, dumping, technical and administrative barriers, and export subsidies.

    9.1 Voluntary Export Restraints
    Voluntary export restraints (VERs) are similar to export quotas in terms of the quantity
    restrictions in exports. An exporting country voluntarily restricts its exports to a country at a fixed level which is determined by exporting and importing countries through negotiations. The importing country induces the other country to reduce its exports of a commodity voluntarily under the threat of higher trade restrictions when the exports threaten the importing country's domestic industry which produces the particular product. Thus, the economic effects of VERs are the same as those of quotas.

    9.2 Technical, Administrative, and Other ...

    Solution Summary

    Assess the major non-tariff trade barriers.