GATT Has Not Recognized the Infant Industry Argument as a Legitimate

question 14

True/False

GATT has not recognized the infant industry argument as a legitimate reason for protectionism.

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Definitions:

American Exports

Items and services manufactured in the United States that are marketed to other countries.

Less-Developed Countries

Nations with a lower living standard, underdeveloped industrial base, and low Human Development Index relative to other countries.

Soybeans Produced

The total quantity of soybeans grown and harvested, often measured in bushels or metric tons, important for both human consumption and animal feed.

Farm Subsidies

Financial assistance provided by the government to farmers to supplement their income, stabilize food prices, and ensure a reliable supply of agricultural products.