Non tariff barrier (NTB),
Definition of Non tariff barrier (NTB):
Any measure other than high import duties (tariffs) employed to restrict imports.
Two such measures are (1) direct price influencers, such as export subsidies or drawbacks, exchange rate manipulations, methods of imports valuation, customs surcharges, lengthy customs procedures, establishment of minimum import prices, unreasonable standards and inspection procedures, and (2) indirect price influencers, such as import licensing and import. Non tariff barriers, with certain exceptions, are breach of WTO rules but, nevertheless, their overall use has been on the increase since the Tokyo round of multilateral trade negotiations (September 1973 to April 1979) where they were first discussed. Also called non-tariff measure.
Meaning of Non tariff barrier (NTB) & Non tariff barrier (NTB) Definition