COMMERCE 1B03 Chapter Notes - Chapter 3: North American Free Trade Agreement, Common External Tariff, International Monetary Fund
14 Oct 2018
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It"s common for nations to set restrictive standards that detail exactly how a product must be sold in a country. Regulatory trade barriers include labelling, health, safety and emission standards. The general agreement on tariffs and trade and the world trade organization. Gatt an agreement that established an international forum for negotiating mutual reduction in trade restrictions. Wto : the international organization that replaced the gatt, and was assigned the duty to mediate trade disputes among nations. The international monetary fund and the world bank. Imf : an international bank that makes short-term loans to countries experiencing problems with their balance of trade. Wb : an autonomous united nations agency that borrows money from the more prosperous countries and lends it to less developed countries to develop their infrastructure. Are organizations of commodity producing countries that are formed to stabilize or increase prices to optimize overall profits in the long run.
