Economics
Non-Tariff Barriers as Tools of Economic Statecraft and Protectionism
Quick fact
A stringent food safety regulation can be a more effective trade barrier than a high tariff. For example, a country can block imports by demanding a certification that foreign producers cannot reasonably obtain, all while claiming to protect public health.
Why this is interesting
Have you ever wondered why some products are impossible to buy in your country, even though there's no tax on them? The answer lies not in taxes, but in cleverly crafted rules and regulations.