Question 1

The USTR has requested your advice on whether the following are legal pursuant to the GATT. Please explain each of your answers.
-"Scenario"
Reduced rate loans offered by U.S.banks to U.S.businesses willing to relocate their operations to economically depressed inner cities.

Accepted Answer

The answer of The USTR has requested your advice on...

Question 2

Section 201 of the Trade Act of 1974 provides authority for the president to do what,if barriers to U.S.trade are not lifted?

Accepted Answer

A)  Petition Congress to intervene in the situation 
B)  Threaten military action if the barriers are not lifted 
C)  Use retaliation in the form of duties or quotas 
D)  Pay the U.S. company a subsidy

Question 3

The U.S.law dealing with import relief is:

Accepted Answer

A)  Art. 8, Sec. 1, U.S. Constitution. 
B)  Sec. 333, U.S. Import Relief Act. 
C)  Sec. 201, Trade Act of 1974. 
D)  GATT, Art. XIX.

Question 4

Quotas are not permitted under GATT or under U.S.law as a method of protecting domestic industries,unless a trade compensation is provided as a form of compensation.

Accepted Answer

A) True 
 B)False

Question 5

"Scenario"
Tax credits extended by the government of India to Indian companies in order to assist in the reduction of greenhouse gases emitted during the manufacturing process.

Accepted Answer

The answer of "Scenario"
Tax credits extended by the government of...

Question 6

The GATT Agreement authorizes countervailing duties to offset the effect of subsidies on imports that cause or threaten material injury to a domestic industry.

Accepted Answer

A) True 
 B)False

Question 7

In the Bulk Aspirin from China case,the ITA decided to treat the private exporters the same as the government-owned exporters.

Accepted Answer

A) True 
 B)False

Question 8

There are two types of import protection regulations in the U.S.:
I.Laws that provide relief to protect developing U.S.domestic companies.
II.Laws that allow non-market economy nations a financial break.

Accepted Answer

A)  I only. 
B)  II only. 
C)  Both I and II. 
D)  Neither I nor II.

Question 9

The antidumping duty imposed under U.S.law is based on the amount by which the foreign market value exceeds the cost of production by at least 10%.

Accepted Answer

A) True 
 B)False

Question 10

The "material injury" requirement under the U.S.unfair import statutes requires a finding of less harm than does the "serious injury" requirement in the U.S.escape clause.

Accepted Answer

A) True 
 B)False

Question 11

Which of the following factors is used to determine whether dumped imports have caused material injury to an industry?

Accepted Answer

A)  The volume of the dumped imports 
B)  The effect of the imports on prices of like products in the domestic market 
C)  The impact on domestic industry 
D)  All of these are correct

Exam 11: Regulating Import Competition and Unfair Trade

The USTR has requested your advice on whether the following are legal pursuant to the GATT. Please explain each of your answers. -"Scenario" Reduced rate loans offered by U.S.banks to U.S.businesses willing to relocate their operations to economically depressed inner cities.

Section 201 of the Trade Act of 1974 provides authority for the president to do what,if barriers to U.S.trade are not lifted?

The U.S.law dealing with import relief is:

Quotas are not permitted under GATT or under U.S.law as a method of protecting domestic industries,unless a trade compensation is provided as a form of compensation.

"Scenario" Tax credits extended by the government of India to Indian companies in order to assist in the reduction of greenhouse gases emitted during the manufacturing process.

The GATT Agreement authorizes countervailing duties to offset the effect of subsidies on imports that cause or threaten material injury to a domestic industry.

In the Bulk Aspirin from China case,the ITA decided to treat the private exporters the same as the government-owned exporters.

There are two types of import protection regulations in the U.S.: I.Laws that provide relief to protect developing U.S.domestic companies. II.Laws that allow non-market economy nations a financial break.

The antidumping duty imposed under U.S.law is based on the amount by which the foreign market value exceeds the cost of production by at least 10%.

The "material injury" requirement under the U.S.unfair import statutes requires a finding of less harm than does the "serious injury" requirement in the U.S.escape clause.

Which of the following factors is used to determine whether dumped imports have caused material injury to an industry?