Pls do not handwriten the answer, this is for easy reading ai) Trade restriction
ID: 1139576 • Letter: P
Question
Pls do not handwriten the answer, this is for easy reading
ai) Trade restrictions can be implemented by tariffs and quotas acting on price and quantity respectively or by non-tariff barriers (NTBs). Explain what constitute NTBs ranging from industrial policy, technical barriers, subsidies and government procurement to labour and environment standards. Discuss NTBs’ relative effectiveness and popularity in international economics in the 21st century.
ii) How do sanitary and phytosanitary standards (SPS), including health, environmental and safety (HES) and even human rights issues, enter and be classified as trade barriers as trade becomes politicized?
(Hint: think of economic and trade sanctions and more nationalistic policies like under Trump’s administration as affecting trade and even NAFTA).
Explanation / Answer
the international trade that is exports and imports from and to a country can be resricted through tariff and non-tariff trade barriers. the non tariff trade barriers includes imprt quotas, imort licensing requirements, foreign exchange restrictions etc.