Nontariff barriers (NTB) include which of the following? a....

Name: Problem 9, Chapter 18: Introduction to agricultural economics
Uploaded: 2021-04-07T16:32:16-08:00
Duration: 3 min 20 s
Channel: Kaylee Mcclellan
Description: Nontariff barriers (NTB) include which of the following? a. Export subsidies, specific tariffs, restrictions at national borders b. Export subsidies, ad valorem tariffs, price supports c. Price supports, restrictions at national borders, favorable credit terms for exporters d. Price supports, favorable credit terms for exporters, specific and ad valorem tariffs

Nontariff barriers (NTB) include which of the following? a. Export subsidies, specific tariffs, restrictions at national borders b. Export subsidies, ad valorem tariffs, price supports c. Price supports, restrictions at national borders, favorable credit terms for exporters d. Price supports, favorable credit terms for exporters, specific and ad valorem tariffs

Nontariff barriers (NTB) include which of the following?
a. Export subsidies, specific tariffs, restrictions at national borders
b. Export subsidies, ad valorem tariffs, price supports
c. Price supports, restrictions at national borders, favorable credit terms for exporters
d. Price supports, favorable credit terms for exporters, specific and ad valorem tariffs

Key Concepts

Nontariff Barriers (NTBs)

NTBs are trade measures that restrict imports or exports without imposing a direct tax like a tariff. They encompass a range of policies and regulations such as quotas, technical regulations, and licensing requirements, which can create obstacles to trade even in the absence of traditional tariff duties.

Domestic Subsidies

These are financial supports provided by governments to domestic industries, including price supports and favorable credit terms for exporters. Although designed to assist domestic firms, such subsidies can distort trade by giving local companies an advantage over foreign competitors, and in certain contexts, they serve as nontariff barriers.

Border Restrictions

Border restrictions refer to various regulatory measures implemented at a country’s borders, such as import licensing, quotas, or other non-tariff regulatory controls. These restrictions limit or condition the entry of goods into a country, thereby acting as a barrier to free trade without the imposition of tariffs.

Transcript

00:01 In this example, we are walking through the differences between certain international trade terms and the relationship that may exist between them.

00:07 The first two terms are trade barrier and quota.

00:10 What we know of trade barriers is this is anything that works to limit trade between two countries.

00:17 Whereas a quota over here, this is considered also a trade barrier.

00:20 A quota is a form of a trade barrier and a quota limits the quantity that a country is able to export into another country of whatever particular product it is.

00:30 So essentially what a quota does is it sets this max quantity that can be imported into a country.

00:37 Now moving on to tariff and voluntary export restraint.

00:41 A tariff is essentially a tax that is charged on goods imported into a country from a particular country, maybe, or maybe it's just that good in general.

00:50 They charge, say, 5 % of that product's value when it is being imported into the country.

00:56 A voluntary export restraint, on the other hand, is the exporter limiting the quantity.

01:01 In which they are trading.

01:03 So this has to do with this export side and they do this in order to avoid some sort of trade barrier that is imposed by the importing country.

01:12 So we see this exporter limits their own exports in order to avoid those trade barriers that the importer has imposed.

01:31 Now looking at trade war and protective tariff of trade war is essentially these discrepancies and these issues that arise when a country imposed.

01:39 Some sort of trade barrier on another one...

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