Question

Which of the following is not a part of the WTO’s stance on trade?

	a.	Any tax on imports must not exceed that on import competing products.
	b.	Freer import policy for the cleanest foreign country must be matched by freedom of imports for polluter countries.
	c.	Tariffs that are implemented to conserve natural resources must not be used merely to shut out foreign goods.
	d.	Any trade barrier that reduces greenhouse-gas emissions is permissible.

In which case is the national defense argument a valid one for tariff protection?

	a.	When the crucial goods are depletable mineral resources.
	b.	When stocks of the crucial goods can be cheaply stored.
	c.	When a war with a neighboring country is feared.
	d.	When production subsidies or stockpiling are prohibitively expensive.

Answer 1

a) The correct option is: Freer import policy for the cleanest foreign country must be matched by freedom of imports for polluter countries.

It is a forum for governments to negotiate trade agreements. It is a place for them to settle trade disputes. It operates a system of trade rules. Essentially, the WTO is a place where member governments try to sort out the trade problems they face with each other.

b) The correct option is: When production subsidies or stockpiling are prohibitively expensive.

protective tariff. A duty imposed on imports to raise their price, making them less attractive to consumers and thus protecting domestic industries from foreign competition.

Please vote thumbs up..