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1、CHAPTER 9CHAPTER 9NONTARIFF BARRIERS TO IMPORTSNONTARIFF BARRIERS TO IMPORTSObjectives of the ChapterObjectives of the ChapterThis chapter notes the numerous other ways to restrict foreign trade without using a tariff.Nontariffbarriers(NTBs)have gained importance since World War II as a result of co
2、ntinuous multilateralnegotiations to cut tariffs.Many of these barriers reduce imports to a fixed amount by either setting animport quota or coercing the exporting country to limit its exported quantity.Other barriers restrict thequantity of imports through discrimination by quality or content.Impor
3、t tariffs,import quotas,and voluntary export restraints(VERs)all have the same effects on thehome countrys producers and consumers:the producers win and the consumers lose.The majordifference in economic impact comes in who receives the profits from higher-priced imports.In the caseof a tariff,the g
4、overnment collects the revenue in the form of the import tax.In the case of a quota,thegovernment may auction rights to import the limited quota amount(in which case the quota looks justlike a tariff),or the government may use some alternative form of license distribution such as favoritism(in which
5、 case the cronies who receive the licenses get the windfall).With a VER,the windfall goes tothe agents in the exporting country who get the privilege of selling expensive imports to the country.After studying Chapter 9 you should know1.the rationale behind imposing nontariff trade barriers.2.the imp
6、ort quota and reasons for using it.3.how a tariff and a quota can be equivalent.4.the ways to allocate import licenses.5.the comparisons between import quotas and VERs.6.other costs that arise from erecting import barriers,such as foreign retaliation.Important ConceptsImportant ConceptsDomestic cont
7、ent requirements:Domestic content requirements:Directs that a product made or assembled in a country must haveacertain amount of“domestic value,”in the form of local factors ofproduction that are used in(or locally made components that are partof)the finished product.Fixed favoritism:Fixed favoritis
8、m:A way of allocating import licenses in which the government simplyassigns fixed shares to firms,often based on the shares of importsthe firms had before the quota was imposed.A legal right to import goods subject to quotas or other nontariffbarriers.Import licenses can be allocated by governments
9、usingcompetitive auction,fixed favoritism,or resource-using applicationprocedures.A limit on total quantity of imports allowed into a country each year.Import quotas are the most common nontariff trade barrier.Import license:Import license:Import quota:Import quota:MFN:MFN:Most favored nation status
10、.An agreement between two nations tolevy tariffs on each other at rates as low as those levied on any othercountry.If one of these nations reduces tariffs on a third country,allof that nations MFN partners must also receive that lower tariff rate.Part of the U.S.Trade Act of 1974.It gives the Presid
11、ent power toimpose import barriers against goods from a country using“unfairtrade practices”to limit imports from the U.S.and other countries.Voluntary export restraints.Nontariff barriers to tradethat areequivalent to quotas.Exporting countries are coerced by theimporting country into allocating a
12、limited quota of exports.VERsare not legislated and can be imposed with or without formalinternational negotiations.International trade in textiles and clothingis subject to numerous VERs.Section 301:Section 301:VERs:VERs:Warm-up QuestionsWarm-up QuestionsTrue or False?Explain.True or False?Explain.
13、1.T/F2.T/F3.T/F4.T/F5.T/FQuotas give government officials greater administrative flexibility than tariffs do.As long as quota licenses are auctioned,the welfare effects of a quota are equivalent tothe welfare effects of a tariff.If a government has a small tax base,it might prefer tariffs to quotas.
14、A VER is worse than a quota for the country that imposes it.There is very little that is voluntary about a Voluntary Export Restraint.Multiple ChoiceMultiple Choice1.Which of the following is most correct?A.Import quotas usually create monopoly rents.B.A quota system is more efficient than a tariff
15、system.C.An import quota is more suitable for emergency applicationby government officials than acomparable tariff.D.Under competitive conditions,an import quota allows import-competing producers to reapmore profits than a tariff.2.Quotas are often preferred to tariffs becauseA.quotas are a richer s
16、ource of government revenues.B.tariff changes are strictly controlled by international trade agreements.C.quotas do not hinder competition in the domestic market.D.quotas create a less fertile environment for corrupt government officials.Under a VER regime,the tariff equivalent revenue accrues to th
17、eA.importing-country government.B.importing-country consumers.C.exporting country.D.import-competing industries.A domestic monopolist facing import competitionA.prefers a tariff to its equivalent quota.B.prefers a quota to its equivalent tariff.C.is indifferent between a tariff and an equivalent quo
18、ta.D.loves free trade.Which is the most efficient method of allocating import licenses?A.Competitive auctions.B.Fixed favoritism toward domestic importers.C.Resource-using application procedures.D.Fixed favoritism toward foreign exporters.3.4.5.Problems1.Leinster bakers have petitioned their governm
19、ent officials for protection against competitionfrom imported Saxon bread.You have been hired by the government to discuss the optionsavailable.The Minister of Trade wants to know about the ease of implementation and the welfareeffects of the following:a.An import quota of 40 million loaves.b.A VER
20、of 40 million loaves.2.In response to information received from a“mole”(spy)in Leinsters Ministry of Trade,thePrime Minister of Saxony wants a retaliatory reduction in imports of telephones.He is especiallyinterested in tariffs and quotas.Keep in mind that Saxony is a“small country”in the following:
21、a.Illustrate how a tariff and a quota can have equivalent effects on the price and quantity ofimported telephones.b.Describe two different ways that the quota licenses can be allocated,and explain who wouldget the quota rents in each case.3.The Bureau of National Statistics in Leinster has calculate
22、d that Gross Domestic Product is,inreal terms,200 million telephones.(We dont yet have a currency,so all values must bemeasured in units of goods.)Using your answers from Problem 1 in Chapter 8,calculate a HarryG.Johnson figure for the cost toLeinster of protecting its domestic bread market.4.The di
23、agram below depicts an import quota of 100,000 cameras imposed by a small country.Thequota raises the domestic price from the free trade level of$100 to a level of$150.Figure 9.4Using the information in this diagram,quantify the following:Sa.The revenue gained by the government by auctioning import
24、licenses at$50 per camera.Domestic price$150with quota$100World priceb.The value of the increase in producer surplus associated with the imposition of the quota.D100150 200 300 350Cameras(thousands)c.The value of the decrease in consumer surplus associated with the imposition of the quota.Price(doll
25、arspercamera)5.d.The net effect of the quotaon the countrys welfare.You are given the following data comparing the effects of free trade,a U.S.import quota,and aVoluntary Export Restraint on the American market for compact discs(CDs):Price of CDs inthe U.S.Foreign price per CD(at U.S.ports)Imports o
26、f CDs intoU.S.(millions)Free trade$12$1210Import quota of 8 million$15$108VER of 8 million$15$108a.Quantify the welfare gains for the United States from the import quota and from the VER,both relative to free trade.Which of the two import-reducing policies is better for the UnitedStates?b.Quantify t
27、he welfare gains for countries that export CDs to the United Statesresulting fromthe import quota and the VER,both relative to free trade.Which of the two trade-reducingpolicies is better for those exporting countries?Discussion Topics1.2.Do you think replacing all import quotas with Voluntary Export Restraints would improve orworsen relations between the United States and other countries?Some people think that the United States“free trade”stance is hypocritical.Do you agree withthem?