QAEconomics › International trade organizations promote free trade by encouraging countries to
Q

International trade organizations promote free trade by encouraging countries to

1) maintain tariffs.

2) establish trade quotas.

3) remedy trade surpluses.

4) develop products.

A

Answer: 1. Maintain tariffs.

International trade organizations promote free trade by encouraging countries to maintain or reduce tariffs.

Free trade encourages the exchange of goods across borders of nations around the world. By lowering tariffs on these goods at the points of clearance, free trade is promoted.

The aim of the World Trade Organization is to promote free trade, and it aims to achieve this by removing barriers to free trade. The WTO makes agreements with the leaders of trading nations around the world. This agreement compels them to reduce import-export tariffs, which in turn encourage free trade.

Free trade will allow people to procure more products of high-quality cheaply.

4 months ago
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