Question

Give one best example of non tariff trade barrier

Answer 1

A non-tariff trade barrier (NTB) is a way to restrict trade that is import and exports using trade barriers or some mechanisms, in a form other than tariffs. NTBs arise from different measures taken by governments and authorities in the form of government laws, regulations, policies, conditions, restrictions or specific requirements, and private sector business practices, or prohibitions that protect the domestic industries from foreign competition.

One example is Quotas.

Countries often issue quotas for importing and exporting goods and services. there are quite a few ways of using quotas, Countries agree on specified limits for products and services allowed for importation to a country. In most cases, there are no restrictions on importing these goods and services until a country reaches its quota, which it can set for a specific time frame. Additionally, quotas are often used in international trade licensing agreements.