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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
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