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Chapter 34: Q. 30. (page 832)

Do the rules of international trade require that all nations impose the same consumer safety standards?

Short Answer

Expert verified

International trade don't require all the nations to impose the same consumer safety standards.

Step by step solution

01

Step 1. Meaning of international trade.

It is an activity carried out by either countries or organizations to exchange products and services to boost their economy. It involves a scenario where a country buys a commodities from other simply because the production cost is high compared to importation cost or because the commodity is not available in the country.

02

Step 2. International trade didn't require that all nations should impose the same consumer safety standards.

As countries have the freedom to set their own standards like:-

a) Countries can decide the most favored nations.

b) Countries can align to create a free trade agreement.]

c) Countries can manage its own subsidy and export rules.

But all these decisions and rules should be based on scientific explanation otherwise it should be declared void by the WTO.

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