TARIFFS AND NON TARIFFS BARRIERS | The Economics Talk

Chaman Nayyar, Junior Research Fellow, created CZcams content discussing tariff and non-tariff barriers. In her video, she introduces tariffs as taxes imposed on imported goods to protect domestic industries and generate revenue. Non-tariff barriers, on the other hand, include quotas, subsidies, customs delays, and standards that restrict imports without direct taxation. Chaman highlights the importance of understanding these barriers in global trade dynamics, as they significantly affect market access and competitiveness. The major differences he outlines are that tariffs are straightforward financial charges, while non-tariff barriers are regulatory and can be more complex, impacting trade indirectly through administrative and procedural requirements. This comprehensive explanation helps viewers grasp the fundamental concepts and implications of trade barriers.