Although the WTO contains diverse principles, the basic tone of the WTO is one of free trade and the market principle in international trade. It is based on the conviction that trade unfettered by government restrictions in trade and investment contributes to the maximization of economic welfare of trading nations. For this purpose, the WTO and the GATT 1947, its predecessor, have engaged in trade negotiations with the purport of reducing and eliminating tariffs and trade barriers. Another important cornerstone of the WTO is non-discrimination, for example,...
Users without a subscription are not able to see the full
to access all content.