economics medium MCQ

Which of the following best describes the concept of 'Non-Tariff Barriers' (NTBs) in international trade?

  1. Standard customs duties levied on imported luxury goods
  2. Restrictions such as quotas, embargoes, and stringent sanitary/phytosanitary standards
  3. Subsidies provided to domestic exporters by the government
  4. Taxes levied on the repatriation of profits by foreign multinational corporations

Answer: Restrictions such as quotas, embargoes, and stringent sanitary/phytosanitary standards

As the WTO has successfully driven down traditional tariff barriers globally, countries have increasingly resorted to NTBs to protect domestic industries. These include import quotas, complex licensing requirements, and excessively strict health, safety, or environmental standards that effectively block foreign goods from entering the domestic market.

Topic International Economics - Trade
Exam Relevance UPSC Prelims, SSC CGL
More economics Questions Back to all questions