world_organizations hard MCQ

Which WTO agreement allows developing countries to temporarily restrict imports to safeguard their balance of payments or protect infant industries, subject to specific conditions and notifications?

  1. Agreement on Safeguards
  2. Agreement on Subsidies and Countervailing Measures
  3. General Agreement on Tariffs and Trade (GATT) Article XVIII
  4. Agreement on Import Licensing

Answer: General Agreement on Tariffs and Trade (GATT) Article XVIII

GATT Article XVIII recognizes the development needs of low-income countries. It permits temporary trade restrictions for balance-of-payments reasons (Section B) or to promote particular industries (Section C), provided measures are transparent, non-discriminatory, and phased out as conditions improve.

Topic World Trade Organization
Exam Relevance UPSC, Banking, SSC
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