Non-Tariff Barriers to Trade | International Trade | Economics

The trade barriers other than import quotas include voluntary export restraints, technical, administrative and other regulations, trade restrictions due to international cartels, dumping and export subsidies. During the recent decades, many countries have started relying increasingly upon these forms of protectionism. 1. Voluntary Export Restraints (VER): These restraints refer to a situation in which the importing country, faced with excessive [...]