Due to GATT's prohibition of quotas,a nation may not impose quotas to safeguard its external financial position and its balance of payments.

Question

Quizplus · Accepted Answer

GATT's prohibition of quotas does not restrict a nation's ability to impose quotas for the purpose of safeguarding its external financial position and balance of payments. However, such measures must be temporary and in accordance with the rules of the World Trade Organization (WTO).

Due to GATT's Prohibition of Quotas,a Nation May Not Impose