Question: TRUE/FALSE 1. A problem for many international merchants is that tariff s have been rising for the last decade. 2. The United States imports more

TRUE/FALSE
1. A problem for many international merchants is that tariff s have been rising for the last decade.
2. The United States imports more goods and services (combined) than it exports.
3. “Valuation” is the process by which the Customs Services decides the nature of goods being imported into the United States.
4. The United States helped negotiate GATT but ironically has refused to sign the agreement.
5. Decisions of the WTO are nonbinding recommendations.

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