UNCTAD: Trade costs of non-tariff measures now more than double that of regular tariffs

Latest Asia Pacific Trade & Investment Report 2019:

Trade costs of non-tariff measures are now more than double that of regular tariffs, the new Asia-Pacific Trade and Investment Report 2019 finds. Fuelled by legitimate public policy concerns and ongoing trade tensions, the number of non-tariff measures #NTMs has risen significantly. It is a concern for traders & policymakers who want trade to contribute to sustainable development.

While applied tariffs in the Asia-Pacific region have halved over the past two decades, the number of NTMs – policy regulations other than tariffs affecting international trade – has risen significantly, according to a new report launched on 14th October by the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) and UNCTAD.

The Asia-Pacific Trade and Investment Report 2019 (APTIR) finds that NTMs are now affecting around 58 percent of trade in Asia and the Pacific. One reason for the rise of NTMs is their growing popularity as weapons of trade policy in regional and global trade tensions.