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Law school: Where you spend three years learning to think like a lawyer, then a lifetime trying to think like a human again.
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Legal Definitions - nontariff measure
The law is a jealous mistress, and requires a long and constant courtship.
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Definition of nontariff measure
Definition: A nontariff measure is an official policy that affects international trade conditions, excluding tariffs. It can either increase or restrict trade. Nontariff measures are abbreviated as NTM and are different from nontariff barriers.
Examples:
- Quotas: A limit on the quantity of a product that can be imported or exported.
- Embargoes: A complete ban on trade with a particular country or region.
- Product standards: Regulations that require products to meet certain safety, health, or environmental standards before they can be imported or sold in a country.
The examples illustrate how nontariff measures can either increase or restrict trade. Quotas and embargoes limit the amount of goods that can be traded, while product standards can increase trade by ensuring that products meet certain quality requirements.
If the law is on your side, pound the law. If the facts are on your side, pound the facts. If neither the law nor the facts are on your side, pound the table.
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Simple Definition
Term: Nontariff Measure
Definition: A rule or law made by a government that affects international trade, but is not a tax on imported or exported goods. This can include policies that make trade easier or harder. It is often abbreviated as NTM and is different from a nontariff barrier.
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