NTB
Business & Finance abbreviation · Economics
| Stands for | Non-tariff barrier |
|---|---|
| Categories | Business & Finance |
NTB stands for Non-tariff barrier, an economics abbreviation.
Restriction on imports or exports other than a tariff, such as quotas, licensing requirements, product standards, sanitary rules, local-content requirements or burdensome customs procedures. NTBs can protect domestic producers even when tariffs are low.
Example: Exporters say lengthy food-safety inspections act as an NTB that keeps their fruit out of the market.
Usage notes
Also called non-tariff measures (NTMs) when the intent is not necessarily protectionist, since many are legitimate health or safety rules. Economists estimate that such measures often raise trade costs more than tariffs do. Modern trade agreements increasingly focus on harmonizing standards to reduce them.
Related abbreviations
More economics abbreviations
- MR – Marginal revenue
- NAIRU – Non-accelerating inflation rate of unemployment
- NBER – National Bureau of Economic Research
- NFP – Nonfarm payrolls
- NGDP – Nominal gross domestic product
- NIRP – Negative interest-rate policy
- ODA – Official development assistance
- PBoC – People's Bank of China
- PCE – Personal consumption expenditures
- PED – Price elasticity of demand
- PIIGS – Portugal, Ireland, Italy, Greece and Spain
- PMI – Purchasing Managers' Index