Economics · International Trade Organizations
Assertion (A): The World Trade Organization (WTO) prohibits all forms of discriminatory treatment between trading partners through the Most-Favored-Nation (MFN) principle. Reason (R): Regional Trade Agreements (RTAs) and Free Trade Agreements (FTAs) are permitted as specific exceptions under Article XXIV of the GATT, allowing member countries to grant preferential treatment to their partners within the agreement.
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1A is false, but R is true.✓
- 2A is true, but R is false.
- 3Both A and R are true, but R is not the correct explanation of A.
- 4Both A and R are true, and R is the correct explanation of A.
Correct answer
A is false, but R is true.
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