Under GATT's principle of __________ tariffs,each time tariffs are reduced,they may not be raised again without compensation to other World Trade Organization members.

Question

Quizplus · Accepted Answer

The principle described in the question is known as "bound tariffs," which means that once a country has agreed to a certain tariff level under GATT/WTO rules, it cannot raise that tariff without providing compensation to affected trading partners. The other choices (absolute, based, and nationalized) do not accurately describe this principle.

Under GATT's Principle of __________ Tariffs,each Time Tariffs Are Reduced,they