TITLE:
A Review of Non-Tariff Measures with Particular Focus on the US and China Practices
AUTHORS:
Yujie Shi
KEYWORDS:
Non-Tariff Measures, Trade Policy, US, China, Trade War
JOURNAL NAME:
Theoretical Economics Letters,
Vol.12 No.3,
June
8,
2022
ABSTRACT: The US-China trade war that started with the focus
on tariffs has provided impetus for hostilities on the front of non-tariff
measures (NTMs) also. The first objective of this paper is to appraise the
current knowledge of NTMs with respect to its classification, determinants and
importantly its impact on international trade by intensively reviewing the exiting
literature on the subject matter. The implementation of NTMs primarily results
in negative effect on trade, though some positive effects could also be
observed. Secondly, the paper delves into the understanding of the past NTM
practices of the US and China, thereby leading to the knowledge on its
potential use in the future. Both countries instigated a large number of NTMs
towards their trading partners and also against each other. Besides, they have
mainly used TBT and SPS aspects of NTMs which are primarily agriculture related
products. With the escalation of the trade war, there is a greater likelihood
that the scale and scope on the use of NTMs gets amplified.