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What is Understanding Tariff and Non-Tariff Barriers about?

The document discusses tariff and non-tariff barriers in international trade. It explains that tariffs are taxes on imports while non-tariff barriers include subsidies and policies that favor domestic companies over foreign ones. The World Trade Organization (WTO) aims to reduce these trade barriers by establishing agreements that liberalize trade and create a more predictable trading system. The three most important WTO agreements cover goods (GATT), services (GATS), and intellectual property (TRIPS).

Author

Yogendra Gautam

Language

EN