Under the World Trade Organization, when countries agree to open their markets for goods or services, they will "bind" their commitments.These bindings amount to ceilings on import tariff rates.

Question

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The statement is true. Bindings under the World Trade Organization (WTO) refer to commitments made by countries to keep their import tariff rates below a certain ceiling. These bindings help to promote free and open trade by limiting the extent to which countries can raise tariffs on imported goods or services.

Under the World Trade Organization, When Countries Agree to Open