The Risks of Transformation of Companies’ Standards to Non-Tariff Measures

Abstract

The article deals with a fundamental shift to non-tariff measures in the world trade regulation, thus underlining the importance of standards developed by large companies. Several examples of companies’ standards demonstrate that standardization helps to share new technologies as well as to shape the market in the future. Special attention is given to the risks of transformation of these standards to non-tariff measures, which can be categorized as exogenous and endogenous. It was concluded that multilateral cooperation and compliance with the requirements of international organizations are needed for successful implementation of companies’ standards in the world trade system.