WTO (World Trade Organization)
The World Trade Organization is an international body establishing rules for international trade, mediating trade disputes between nations, and promoting free trade. WTO rules aim to reduce protectionism and increase market access, though this benefits some countries more than others.
Real World
When the US imposed steel tariffs in 2018, the EU successfully challenged them at the WTO dispute settlement body, showing both the organisation's power and its limits when the US partially ignored the ruling.
Exam Focus
Highlight that WTO rules can disadvantage developing nations' infant industries — this counter-argument is frequently rewarded in 'assess' questions.
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