Introduction to Economics 2 Deneme Sınavı Sorusu #349963

Which of the following is true about WTO (World Trade Organization?


It was established in 1947.

 

It has succeeded to reduce the tariffs.

 

It prevented the use of non-tariff restrictions

 

It covers only the rules about commodity trade

It ended the era of new protectionism


Yanıt Açıklaması:

The WTO, as well as the GATT, has succeeded to reduce the tariffs. However, countries have begun to use non-tariff restrictions instead of tariffs. This preference and increasing implementation of the non-tariff restrictions are mostly referred to new protectionism. In spite of the rules and regulations of the WTO, countries pretend to implement new types of non-tariff restrictions. The WTO is not very efficient in preventing the usage of the nontariff barriers.

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