Tariff and Non-tariff Barriers

Tariff barriers are taxes imposed on imported goods, making them more expensive and less competitive compared to local products. This can protect domestic industries but may raise prices for consumers. Non-tariff barriers, on the other hand, are regulations or standards that restrict imports without direct taxation. Examples include import quotas, licensing requirements, and safety standards. While tariffs are straightforward taxes, non-tariff barriers can be more complex, often designed to achieve similar protective goals while appearing less overtly restrictive. Both types of barriers can significantly influence international trade dynamics and economic relationships between countries.