The situation in the United States (and other developed countries) whereby an import Good faces a lower tariff if the good comes from a developing country than if the good Comes from a developed country is known as __________.

Question

Quizplus · Accepted Answer

GSP (Generalized System of Preferences) treatment is the situation where developed countries give lower tariffs to imported goods from developing countries as a form of trade preference. This is to promote the growth of developing countries' economies by making their products more competitive in the global market. The other choices are not relevant to this specific situation.

The Situation in the United States (And Other Developed Countries)