The concept that runs throughout the GATT requires that the products of all nations be treated equally and without discrimination by importing nations.This is the principal behind:
A) nullification and impairment.
B) most-favored-nation trade.
C) ad valorem tariffs.
D) nontariff trade barriers.

Question

Quizplus · Accepted Answer

The concept of most-favored-nation trade is about treating all nations equally in terms of trade by importing nations. This means that all countries are given the same level of trade privileges and benefits, without any discrimination or preference given to specific nations. Therefore, option B is the correct answer. Nullification and impairment is related to dispute settlement, while ad valorem tariffs and nontariff trade barriers are specific trade policies and measures that are not directly related to the principle of treating all nations equally.

The Concept That Runs Throughout the GATT Requires That the Products