Tariff and non tariff barriers of International trade

Tariff and non tariff barriers of trade

1. Tariff And Non-Tariff Barriers 23MBA11641 23MBA11658 23MBA11663 23MBA11670

2. Introduction to Global Markets Navigating global markets requires an understanding of various barriers. This presentation will explore tariff and non-tariff barriers, their implications on international trade, and strategies for businesses to effectively manage these challenges. Let's delve into the complexities of global trade dynamics.

3. What are Trade barriers? Trade barriers are restrictions or obstacles that governments impose to regulate international trade. These barriers can take various forms and are typically intended to protect domestic industries, preserve national security, or achieve other economic or political objectives. Types- -Tariff Barriers -Non-Tariff Barriers

4. What are Tariff Barriers? Tariff barriers are taxes imposed on imported goods, affecting their price and competitiveness. These barriers can protect domestic industries but may also lead to trade tensions. Understanding tariffs is essential for businesses to strategize pricing and market entry effectively.

5. Understanding Non-Tariff Barriers Tariff barriers are taxes imposed on imported goods, affecting their price and competitiveness. These barriers can protect domestic industries but may also lead to trade tensions. Understanding tariffs is essential for businesses to strategize pricing and market entry effectively.

6. Case Example: Basmati Rice Export Restrictions Basmati Rice Export Issues: In 2007, India imposed a ban on the export of non-Basmati rice to prevent food inflation within the country, following a surge in rice prices due to a poor harvest. The Indian government also introduced controls on the export of Basmati rice. This created a significant stir in the global rice market, especially among importing nations that relied heavily on Indian Basmati rice.

7. Impact on International Trade Both tariff and non-tariff barriers significantly impact international trade flows. They can alter competitive dynamics, influence supply chains, and affect consumer prices. Understanding these impacts is crucial for businesses looking to expand in global markets.

8. Conclusion and Key Takeaways In conclusion, navigating global markets requires a comprehensive understanding of both tariff and non-tariff barriers. Businesses must adapt their strategies to mitigate these barriers and leverage opportunities in international trade for sustained growth.