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Question
An embargo can be:| I. | A limit on the amount charged for items imported. |
| II. | Government red tape administered by entrenched bureaucrats. |
a. I only.
b. II only.
c. Both I and II.
d. Neither I nor II.
Answer
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Related questions
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When a petition for import relief is filed with the International Trade Commission, the ITC conducts an investigation and must consider all the following factors except:
a. Idling of productive facilities in the industry.
b. Unemployment in the industry.
c. Ability of industry to shift to production of other products.
d. Increase in imports.
Q:
The U.S. law that protects against "fairly traded" imported products is:
a. Countervailing duty.
b. Antidumping statute.
c. Escape clause.
d. Import relief.
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Dumping is the unfair trade practice of selling products in one country for less than the price charged for comparable goods in the producer's home market.
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The GATT Agreement on Safeguards permits a member state to increase tariffs on an imported product in order to allow a domestic manufacturer to successfully introduce a competitive product in the domestic market.
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The president can provide import relief in the form of temporary tariff increases or quotas without having to consult any other organization.
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Dumping does not occur when there is no market for the product in the home country.
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a. Product standard.
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Q:
Which of the following is not an instance in which the U.S. Trade Representative may take retaliatory action against a foreign country?
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b. The foreign government permits forced labor.
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ISO 9000 is a series of rules governing the importation of technology products from a WTO-member nation.
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The Agreement on Government Procurement reverses the general GATT rules that allow government agencies to favor domestic products.
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Under GATT, an exception from the national treatment provision is granted to allow governments to favor domestic suppliers.
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Q:
In the decision involving tariffs on Latin American bananas, the panel:
a. Recommended the tariffs be brought in line with the EEC's obligations under GATT.
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