WTO Membership and Tariffs Quiz
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Questions and Answers

Becoming a member of the WTO involves negotiating terms both bilaterally and ______.

multilaterally

A tariff rate charged as a percentage of the price is known as an ______ tariff.

ad valorem

The ______ Body reviews findings in panel reports related to WTO disputes.

Appellate

The Association of Southeast Asian Nations is commonly referred to as ______.

<p>ASEAN</p> Signup and view all the answers

Cabotage refers to sea shipping between ports of the same ______.

<p>country</p> Signup and view all the answers

Compulsory ______ allows the use of a patented product by parties other than the patent owner.

<p>licensing</p> Signup and view all the answers

Anti-dumping duties are imposed to prevent injury to domestic producers from ______ practices.

<p>dumping</p> Signup and view all the answers

The Basel Convention addresses issues related to hazardous ______.

<p>waste</p> Signup and view all the answers

A product made by a patented process is an example of a ______ product.

<p>patented</p> Signup and view all the answers

A system of small and large meetings handled by a chairperson is referred to as ______ circles.

<p>concentric</p> Signup and view all the answers

Unauthorized representation of a registered trademark on similar goods is known as ______.

<p>counterfeit</p> Signup and view all the answers

Increased duties taken by the importing country to offset subsidies are called ______ measures.

<p>countervailing</p> Signup and view all the answers

Under ______, producers can source parts from other countries without losing the originating status.

<p>cumulation</p> Signup and view all the answers

Minimum amounts of trade distorting support are referred to as ______ amounts.

<p>de minimis</p> Signup and view all the answers

A type of agricultural support based on the difference between target and market prices is called ______ payment.

<p>deficiency</p> Signup and view all the answers

The unofficial name for the Doha Development Agenda is the ______ Round.

<p>Doha</p> Signup and view all the answers

Study Notes

Accession to WTO

  • New members must negotiate their terms bilaterally with existing members before converting those results into multilateral agreements.
  • Necessary to undertake legislative and institutional reforms to fulfill WTO obligations.

Tariffs and Duties

  • Ad valorem tariff: A tariff calculated as a percentage of the import price.
  • Anti-dumping duties: Imposed on goods sold at below normal value that harm domestic producers; equal to the price difference that causes injury.

WTO Appellate Body

  • Consists of seven independent members.
  • Reviews appeals related to WTO disputes and panel report findings.

Applied Tariffs

  • Actual duties charged on imports, which may be lower than bound rates.

ASEAN Membership

  • Eight ASEAN countries are WTO members: Brunei, Cambodia, Indonesia, Malaysia, Myanmar, the Philippines, Singapore, and Thailand.
  • Laos and Vietnam are currently negotiating for WTO membership.

Environmental and Intellectual Property Agreements

  • Basel Convention: Multilateral agreement focused on hazardous waste management.
  • Berne Convention: Treaty established for the protection of authors' rights in literary and artistic works, administered by WIPO.

Border Protection

  • Refers to measures restraining imports at entry points.

C.i.f Terms

  • Stands for "Cost, Insurance, Freight," indicating these costs are included in the price.

Maritime Transport

  • Cabotage: Transport of goods between ports within the same country.

Circumvention in Trade

  • Methods to bypass WTO commitments, such as altering a product's country of origin or evading duties.

Committee on Agriculture

  • Established under the Agreement on Agriculture to oversee its implementation.

Compulsory Licensing

  • Allows non-patent holders to use patents under specific conditions, permissible under TRIPS Agreement.

Meeting Structure in WTO

  • Concentric circles: System facilitating informal and formal meetings chaired centrally; allows for inclusive member participation.

Counterfeit Goods

  • Involves unauthorized use of trademarks to mislead consumers about the authenticity of goods.

Countervailing Measures

  • Increased duties imposed by importing countries to neutralize export subsidies from exporting countries.

Cumulation in Trade

  • Enables producers to use inputs from different countries without jeopardizing the originating status for trade purposes.

De Minimis Rule

  • Permits minimal domestic support without distorting trade: 5% for developed countries, 10% for developing nations.

Deficiency Payments

  • Support payments to agricultural producers based on the gap between target and market prices.

Product Identification Codes

  • Digits, digit-level (tariffs): Codes used for product categorization following the Harmonized System.

Distortion in the Market

  • Occurs when production levels deviate from those expected in a competitive environment.

Doha Round

  • Unofficially known as the Doha Development Agenda, initiated in Doha, Qatar, focusing on various negotiation and implementation issues.

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Description

Test your knowledge on the World Trade Organization, its membership processes, and tariff regulations. This quiz covers key concepts like ad valorem tariffs, anti-dumping duties, and the role of the WTO Appellate Body. Understand the relationship between international trade agreements and environmental standards as well.

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