GENERAL KNOWLEDGE

Detailed explanation-1: -The WTO does not deal with companies and cannot regulate companies’ actions such as dumping. Therefore the Anti-Dumping Agreement only concerns the actions governments may take against dumping. With subsidies, governments act on both sides: they subsidize and they act against each others’ subsidies.

Detailed explanation-2: -Which of the following exceptions in the WTO rules does not permit a country to use a tariff or quota that is more restrictive than its bound tariff? a. Countries that negotiate tariff reductions on a particular product in a trade round.

Detailed explanation-3: -The WTO agreements cover goods, services and intellectual property. They spell out the principles of liberalization, and the permitted exceptions. They include indivi-dual countries’ commitments to lower customs tariffs and other trade barriers, and to open and keep open services markets.