Suppose a newly formed African country wanted to join GATT and thus be treated the same as other GATT members. What GATT principle is the new country interested in receiving?
A) Free trade
B) Importation/exportation
C) The Tokyo Round
D) Foreign-exchange control
E) Most-favored-nation status

Question

Quizplus · Accepted Answer

The principle of most-favored-nation status ensures that a country is treated the same as the other GATT members with regards to tariffs, trade restrictions, and other trade-related measures. This means that the newly formed African country would receive equal treatment in terms of trade with other GATT members if it is granted most-favored-nation status.

Suppose a Newly Formed African Country Wanted to Join GATT