As a result of GATT,tariff rates in developed countries have decreased from 40 percent in 1948 to less than 4 percent today.
The fact that tariffs have decreased from 40 percent in 1948 to 4 percent today shows the success of GATT and other trade forums at reducing protectionism.
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Q121: Gary Galles in the article "End the
Q140: Refer to Figure 35.6: Q142: Reducing protectionism allows greater gains from free Q146: Discuss the differences between a tariff and Q146: An embargo is a prohibition against trading Q147: Explain how it is possible for a Q147: Quotas are a much greater threat to Q148: What is the "beggar-thy-neighbor" policy,and why is Q148: Preservation of national security is one argument Q149: Trade restrictions designed to benefit the import-competing![]()
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