Bilateral voluntary export restraints, or VERs, circumvented GATT agre

QUESTION

Bilateral voluntary export restraints, or VERs, circumvented GATT agreements, because:

A. these nations withdrew their membership to the GATT.

B. the member nations had ceased to recognize GATT as a regulatory body for international trade.

C. VERs were not a recognized trade barrier under the GATT constitution.

D. neither the importing country nor the exporting country complained to the GATT bureaucracy for it to take action.

E. member nations erected a wall of tariff barriers.

ANSWER

D