Asked by Tyler Short on May 10, 2024
Verified
For signatory countries to the WTO, quotas limiting imports are considered a trade barrier and therefore should be minimized or eliminated.
Quotas
Predetermined targets or minimums that individuals or organizations aim to achieve within a specific timeframe.
Trade Barrier
Any regulation or policy that restricts international trade, such as tariffs, quotas, or import bans.
WTO
The World Trade Organization, an international body that sets global rules for trade between nations to ensure trade flows smoothly, predictably, and freely.
- Comprehend the regulatory structure governing international trade, such as import regulations.
Verified Answer
BV
Beatriz ValdespinMay 10, 2024
Final Answer :
True
Explanation :
Quotas can limit imports, which goes against the principles of free trade and creates a trade barrier. Therefore, signatory countries to the WTO strive to minimize or eliminate quotas in order to promote free and fair trade.
Learning Objectives
- Comprehend the regulatory structure governing international trade, such as import regulations.