Question: Basic facts about the wro The World Trade Organization ( WTO ) was built on the basis of the General Agreement on Tariffs and Trade
Basic facts about the wro
The World Trade Organization WTO was built on the basis of the General Agreement on Tariffs and Trade GATI and, thus, inherited many of its features. Still, the WTO proved to be a very distinct institution.
Indicate whether each property in the following table is a unique property of the WTO compared to GATI.
tablePropertyUnique Property of WTO,Enforces dispute settlements,Yes,NoLimits participation to a few nations,Enforces binding commitments,Acts as a government,Oversees tariff cuts and reduction of nontariff measures,
When can Japan raise tariffs on imports from a country that is a member of the WTO?
Never, because Japan is a member of the WTO
Whenever it wants to because Japan is not a member of the WTO
When imports from that country threaten serious injury to lapanese producers
Whenever it wants to as long as it has no freetrade agreement with that country
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