[Lambswool tax] The U.S. and Canada are members of the World Trade Organization and GATT. Frustrated by the tough competition from Canadian suppliers, Lambswool suppliers in the U.S. have pressured Congress to pass a law requiring importers to pay a tax per pound of lambswool imported to the U.S. and restricting the number of pounds of lambswool imported from specific countries, including Canada. Wholly Wool, Inc., is a Canadian company that sells lambswool that is nearly identical to lambswool produced and sold in the U.S.
-A forum for the settlement of the lambswool tax dispute could be:
A) The WTO
B) GATT
C) The International Trade Arbitration Forum
D) The Uruguay Round
E) The International Monetary Fund
Correct Answer:
Verified
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