International Trade Policy

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What is the main function of the World Trade Organization (WTO)?

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To ensure that trade flows as smoothly, predictably, and freely as possible.

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What are tariffs?

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Tariffs are taxes imposed on imported goods to regulate trade.

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What is the purpose of the Trade Policy Review Mechanism?

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To improve transparency and assess the impact of countries' trade policies.

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What are non-tariff measures (NTMs)?

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Any measures other than tariffs that restrict or distort international trade.

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What is the Agreement on Agriculture (AoA)?

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An agreement aimed at reducing agricultural support and providing a framework for long-term reform of agricultural trade.

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What is the significance of the SPS Agreement?

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It sets rules for sanitary and phytosanitary measures to protect human, animal, or plant life from risks.

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What is the role of the General Agreement on Trade in Services (GATS)?

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To provide a framework for international trade in services.

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What are the three types of subsidies defined in the WTO agreements?

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Prohibited subsidies, actionable subsidies, and non-actionable subsidies.

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What is the purpose of anti-dumping measures?

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To protect domestic industries from foreign companies selling products below normal market value.

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What is the role of the Ministerial Conference in the WTO?

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It is the top-level decision-making body that meets at least once every two years.