The WTO Flashcards
1
Q
What are the two roles of the WTO?
A
- organise rounds of talks
- settle trade disputes
2
Q
Rounds of talks
A
in which trade deals are negotiated e.g 2013 Bali package
3
Q
Settle trade disputes
A
when one country believes another is breaking or bending the rules of a trade agreement e.g US 30% tariff on steel
4
Q
Conflict between trading blocs and the WTO
A
WTO will only support trading blocs if they lead to more trade creation than diversion
