The Long-Term Arrangement on Cotton Textiles (LTA) of 1962 Was

The Long-Term Arrangement on Cotton Textiles (LTA) of 1962 was superseded by Multi-Fiber Arrangement (MFA) in 1973 because the:

A) latter included all countries while the former just limited imports from Japan.
B) latter arrangement was less restrictive and, therefore, more acceptable to developing countries.
C) former only limited imports of cotton textiles and clothing, which predictably led to increased imports of other fabrics.
D) former proved to be too restrictive of international trade and, in the interest of free trade, was replaced by the less restrictive MFA.