Current Trends in the Regulation of International Trade in the Conditions of Excessive Conflict of Geoeconomic Interests
Year: 2024
Type: article
Abstract: The purpose of the study is to analyze modern trends in the regulation of international trade in the context of an aggravating conflict of geo-economic interests. It has been established that the need to balance the demands of the global and national economic environment becomes the dominant factor in the transformation of classic protectionist tools into tools of hidden protectionism or neo-protectionism. The use of non-tariff measures to regulate international trade is one of the manifestations of hidden protectionism. It was noted that the increase in the number of regional trade agreements is a consequence of the extraordinary acuteness of tensions between participants in international trade and the loss of confidence in the possibilities of the WTO to solve the problems, not so much the desire of national governments to erect separate trade barriers but an objective process of including countries in the process of foreign trade liberalisation in the context of global competition, which is gaining strength. The prevalence and variety of non-tariff restrictions depend on the level of development of countries. Developed countries have a higher share of imports in GDP and, in general, participate more actively in world trade than developing countries and least developed countries, and apply almost twice as many non-tariff measures to imports. They are much more applicable to goods that occupy a significant share of trade, and the coverage ratio is higher than the frequency index. Developed countries apply non-tariff restrictions in a more diversified manner, using four different types for any product subject to the restriction, compared to two types in developing countries and one in least developed countries. This proves that developed countries use non-tariff restrictions more than developing countries, both in terms of intensity and extent, that is, in all dimensions. Non-tariff restrictions related to exports show three key trends. First, export restrictions affect more goods in least developed countries than in developed countries, unlike import measures, when developed countries apply more restrictions. Second, they apply regulation more strategically to exports than to imports, focusing on goods with greater potential for market expansion. Third, developed countries use less than one export measure for any regulated product and four different import measures, far fewer than the export restrictions of underdeveloped countries. Although less used to regulate trade, export controls also play an important role, covering about 20 % of world trade.вKeywords: economic interests, tariff policy, non-tariff policy, protectionism, developing countries, developed countries, regional trade agreements, fragmentation of world trade, export, import.
Authors: V. Panchenko, Y. Pinchuk, Master in Commodity science and expert examination in customs
Institution: Mariupol State University
Language: English
Topic: Global trade and economics
Domain: Social Sciences
Open Access status: diamond
OpenAlex ID: W4412366156