noun
- barriers to international trade other than tariffs, such as quotas, regulations, or subsidies
Usage: usually plural; economics and trade terminology
Examples
- The trade agreement aimed to reduce nontariffs that were limiting market access.
- Nontariffs like import quotas can be just as restrictive as traditional tariffs.
- Countries often use nontariffs to protect domestic industries from foreign competition.
- The negotiators focused on eliminating nontariffs that hindered agricultural exports.
- Environmental regulations sometimes function as nontariffs affecting international commerce.