Exam 9: The World Trade Organization: Basic Legal Principles

In a tariff concession,one country promises not to levy a tariff on a given product at a level higher than agreed upon.

The concept that runs throughout the GATT requires that the products of all nations be treated equally and without discrimination by importing nations.This is the principal behind:

In order to convene a WTO panel,the complaining country must prove it has a "legal interest" in the case.

Normal trade relations provides that a nation cannot negotiate a preferential trade agreement with another nation.

The General Agreement on Tariffs and Trade is today the most important instrument for regulating international trade.

When import regulations are readily available to importers and exporters,they are considered to be transparent.

All of the following are basic principles of GATT except:

An embargo is a country's economic policy response to a trading partner's obstacles to imports.

In which of the following areas is the principle of nondiscrimination being central to the GATT evident?

Countries A,B,and C belong to GATT.Countries X and Y do not.A has a 7% tariff on televisions from B.C,X,and Y also export televisions.Under unconditional most-favored-nation trade of GATT:

Due to GATT's prohibition of quotas,a nation may not impose quotas to safeguard its external financial position and its balance of payments.

An example of the GATT/WTO dispute settlement mechanism,Apple can file a complaint against Niger's government non-tariff barrier to limit the importation of iPads to the WTO's Dispute Settlement Body.

In what ways are GATT and the WTO similar? Different?

Draft a document advocating the unilateral elimination of normal trade relations status for countries that do not abide by their WTO commitments.

Under the "national treatment" provisions of GATT,imported products may be regulated and taxed differently than domestic goods after they pass the border and enter a nation's stream of commerce.

When a nation's import regulations or procedures are transparent,it is difficult for foreign firms to gain entrance to its markets.

Which of the following may not be a reliable criterion for determining whether import and domestic goods are "like products"?

When a nation's import regulations or procedures lack ________,foreign firms cannot easily gain entrance to its markets.

Countries A and B both produce coffee.Both countries belong to GATT.Country A imports coffee from B.Once B's coffee enters A's stream of commerce,under the national treatment provisions of GATT:

Which of the following is an example of an ad valorem tariff?