Guador, a small country in South America, is a member of the WTO. American fruit producers recently succeeded in persuading several members of Congress to introduce a bill to remedy Guador's alleged unfair trade practices in the citrus fruit industry. The bill provides for a unilateral threefold increase in the tariff solely applicable to citrus fruits originating in Guador. Furthermore, the bill imposes periodic testing procedures upon Guadorian citrus fruits from which American producers are exempt. Finally, the bill caps imports of Guadorian citrus fruits into the United States at $20 million in value annually. 23. If enacted, would the bill violate the WTO's rules on normal trade relations? A. No, because suspension of normal trade relations is an appropriate response to Guador's perceived unfair trade practices B. Yes, because WTO member states are required to extend normal trade relations to other member states under all circumstances without exception C. Yes, because the United States has not suspended normal trade relations for citrus fruits originating in other states D. No, because the requirement of normal trade relations only applies to non-tariff barriers

Guador, a small country in South America, is a member of the WTO. American fruit producers recently succeeded in persuading several members of Congress to introduce a bill to remedy Guador's alleged unfair trade practices in the citrus fruit industry. The bill provides for a unilateral threefold increase in the tariff solely applicable to citrus fruits originating in Guador. Furthermore, the bill imposes periodic testing procedures upon Guadorian citrus fruits from which American producers are exempt. Finally, the bill caps imports of Guadorian citrus fruits into the United States at $20 million in value annually. 23. If enacted, would the bill violate the WTO's rules on normal trade relations? A. No, because suspension of normal trade relations is an appropriate response to Guador's perceived unfair trade practices B. Yes, because WTO member states are required to extend normal trade relations to other member states under all circumstances without exception C. Yes, because the United States has not suspended normal trade relations for citrus fruits originating in other states D. No, because the requirement of normal trade relations only applies to non-tariff barriers

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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