In 2002 the United States relied on GATT's ________ to impose tariffs on imported steel.
A) escape clause
B) antidumping clause
C) countervailing duty clause
D) most favored nation clause

Question

Quizplus · Accepted Answer

The GATT's escape clause allows member countries to impose tariffs on imports if their domestic industries are suffering from a surge of imports and if it's causing injury to the industry. In 2002, the United States invoked this clause to impose tariffs on imported steel. The other clauses mentioned - antidumping, countervailing duty, and most favored nation clauses - are also part of GATT, but they are not applicable to the situation in 2002 when the US imposed tariffs on steel imports.

In 2002 the United States Relied on GATT's ________ to Impose