Podcast
Questions and Answers
Becoming a member of the WTO involves negotiating terms both bilaterally and ______.
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.
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.
The ______ Body reviews findings in panel reports related to WTO disputes.
Appellate
The Association of Southeast Asian Nations is commonly referred to as ______.
The Association of Southeast Asian Nations is commonly referred to as ______.
Signup and view all the answers
Cabotage refers to sea shipping between ports of the same ______.
Cabotage refers to sea shipping between ports of the same ______.
Signup and view all the answers
Compulsory ______ allows the use of a patented product by parties other than the patent owner.
Compulsory ______ allows the use of a patented product by parties other than the patent owner.
Signup and view all the answers
Anti-dumping duties are imposed to prevent injury to domestic producers from ______ practices.
Anti-dumping duties are imposed to prevent injury to domestic producers from ______ practices.
Signup and view all the answers
The Basel Convention addresses issues related to hazardous ______.
The Basel Convention addresses issues related to hazardous ______.
Signup and view all the answers
A product made by a patented process is an example of a ______ product.
A product made by a patented process is an example of a ______ product.
Signup and view all the answers
A system of small and large meetings handled by a chairperson is referred to as ______ circles.
A system of small and large meetings handled by a chairperson is referred to as ______ circles.
Signup and view all the answers
Unauthorized representation of a registered trademark on similar goods is known as ______.
Unauthorized representation of a registered trademark on similar goods is known as ______.
Signup and view all the answers
Increased duties taken by the importing country to offset subsidies are called ______ measures.
Increased duties taken by the importing country to offset subsidies are called ______ measures.
Signup and view all the answers
Under ______, producers can source parts from other countries without losing the originating status.
Under ______, producers can source parts from other countries without losing the originating status.
Signup and view all the answers
Minimum amounts of trade distorting support are referred to as ______ amounts.
Minimum amounts of trade distorting support are referred to as ______ amounts.
Signup and view all the answers
A type of agricultural support based on the difference between target and market prices is called ______ payment.
A type of agricultural support based on the difference between target and market prices is called ______ payment.
Signup and view all the answers
The unofficial name for the Doha Development Agenda is the ______ Round.
The unofficial name for the Doha Development Agenda is the ______ Round.
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.
Studying That Suits You
Use AI to generate personalized quizzes and flashcards to suit your learning preferences.
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.
