The arrangement where goods imported from trading partners in the developing world are subject to lower tariff rates than goods from other countries is referred to as ?
Correct answer: D. Generalized System of Preferences
- A. normal trade relation status
- B. most favored nation status
- C. offshore assembly provisions
- D. Generalized System of Preferences
Explanation
The Generalized System of Preferences gives selected developing countries lower tariff rates than those applied to other countries. Most-favored-nation status normally refers to nondiscriminatory standard tariff treatment, not this special preference.
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