Global Trade Transformed: Tariffs Replaced by Invisible Barriers
The article discusses how trade agreements are now focusing more on non-tariff measures instead of traditional tariffs. It looks at different types of non-tariff measures and how they affect international trade. The paper also talks about the rules and institutions that control these measures in the world trading system. It explores whether countries should have strict rules or more flexibility in setting these measures. Additionally, it reviews how the World Trade Organization deals with non-tariff measures and suggests options like standard harmonization and mutual recognition.