Similarity of NTMs and its impact on import unit values

Non-tariff measures (NTMs) may lead to a higher regulatory burden on firms that are required to comply with them. The increase in similarity of NTMs applied on their respective imports by the trading partners may reduce this burden as exporting firms are required to comply with them regardless of whether they sell in the domestic market or export to markets with similar NTMs. I determine the influence of increasing similarity of NTMs applied by the US and its trading partners on the unit value of imports at the product-level.