As tariffs have declined, national differences in the regulation of business have less of a chance to alter the pattern of world production and trade.

Question

Quizplus · Accepted Answer

Even as tariffs have declined, national differences in regulation can still significantly alter the pattern of world production and trade by creating non-tariff barriers that affect the flow of goods and services, influencing competitive advantages and market access.

As Tariffs Have Declined, National Differences in the Regulation of Business