To increase trade, the primary tools GATT uses are
A) tariff concessions and most favored nation clause.
B) tariff and nontariff barriers.
C) quotas and export taxes.
D) most favored nation and LDC clauses.
E) EU and NAFTA.

Question

Quizplus · Accepted Answer

The primary tools used by GATT to increase trade are tariff concessions, which involve reducing tariffs on imported goods, and the most favored nation clause, which requires that any favorable trade terms offered to one country by another must be extended to all GATT member countries. Together, these measures work to lower trade barriers and increase opportunities for international trade.

To Increase Trade, the Primary Tools GATT Uses Are