Which ONE of the following trade restrictions is likely to be the most transparent for exporters/importers, easiest to apply in practice and most acceptable from the perspective of World Trade Organization? ¨       a. Quotas. ¨       b. Administrative barriers. ¨       c. Quality standards. ¨       d. Tariffs.

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A: Answer in step 2

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A: International trade: - it means the buying and selling of goods and services with other countries.

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Q: Explain why the arguments for tariffs may be valid in the cases of dumping and infant industries.

A: Tariff can be defined as the barrier that is imposed on the imports of goods and services.

Q: Which of the following is NOT one of three major principles of the World Trade Organization:     A.…

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Q: Who benefits from tariffs? Government or domestic industries?

A: Tariffs refer to the government policy to restrict the imports of goods and services in the economy.

Q: What is the relation of  General Agreement in Tariffs and Trade to World Trade Organization?

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Q: Have the Trump tariffs damaged US trade relations with the EU?

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Q: Would the U.S. government gain any advantage from using tariffs or quotas to restrict imports?

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Q: What is one of the major shortcomings of using tariffs or quotas to "save American jobs"?

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