According to Strategic Trade Policy, many developing countries have a potential comparative advantage in manufacturing, but new manufacturing industries cannot initially compete with established industries in developed countries.

WTO would make it more effective at policing global trade rules than the GATT had been.

Alexander Hamilton proposed the Infant Industry Agreement in 1972.

The Uruguay Round dragged on for seven years before an agreement was reached December 15, 1993.

Trading partners who are signatories of the GATT, as most are, automatically receive MFN status.

Exporting countries agree to VERs to avoid more damaging punitive tariffs.

Other countries can undermine unilateral trade sanctions.

The GATT was a bilateral agreement whose objective was to liberalize trade by eliminating tariffs, subsidies, import quotas, and the like.

Economic arguments for intervention are concerned with protecting the interests of certain groups within a nation (normally producers), often at the expense of other groups (normally consumers).