Which of the following statements about the World Trade Organization is incorrect?
A) The World Trade Organization was founded in 1995.
B) The World Trade Organization is a forum for enforcing international rules promoting free trade.
C) The United States dropped out of the World Trade Organization in 2004 over a disagreement about steel tariffs.
D) The World Trade Organization has had multiple controversies over agricultural subsidies.
E) The World Trade Organization grew out of the General Agreement on Tariffs and Trade.

Question

Quizplus · Accepted Answer

The United States did not drop out of the World Trade Organization in 2004 over a disagreement about steel tariffs. This statement is incorrect. The U.S. has remained a member of the WTO since its founding in 1995. However, the U.S. did engage in a trade dispute with the EU over steel tariffs in the early 2000s, which led to the imposition of temporary tariffs by both sides.

Which of the Following Statements About the World Trade Organization