GATT has not yet recognized the infant industry argument as a legitimate reason for protectionism.

Name: GATT has not yet recognized the infant industry argument as a legitimate reason for protectionism.
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Question

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The General Agreement on Tariffs and Trade (GATT) has recognized the infant industry argument as a legitimate reason for protectionism, allowing countries to protect emerging domestic industries from foreign competition until they become competitive.

GATT Has Not Yet Recognized the Infant Industry Argument as a Legitimate