A program that reduces tariffs for developing countries and their exports is known as which?

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Multiple Choice

A program that reduces tariffs for developing countries and their exports is known as which?

Explanation:
The program being described is the General System of Preferences. This is a unilateral tariff relief offered by developed countries to developing ones, lowering or eliminating tariffs on a wide range of exports to help boost their growth and trade. It’s about preferential access granted by one side rather than a mutual agreement, which is why it fits best when asking which program reduces tariffs for developing countries and their exports. Context helps: GSP schemes exist in various forms (for example, by the US or EU) and cover many products, though there are rules of origin and eligibility limits to ensure the benefits reach the intended countries. This differs from regional blocs like AfCFTA, which are agreements among African nations to reduce tariffs among themselves, or from vague labels like “Trade Blocs (Africa),” and it isn’t related to fixed costs.

The program being described is the General System of Preferences. This is a unilateral tariff relief offered by developed countries to developing ones, lowering or eliminating tariffs on a wide range of exports to help boost their growth and trade. It’s about preferential access granted by one side rather than a mutual agreement, which is why it fits best when asking which program reduces tariffs for developing countries and their exports.

Context helps: GSP schemes exist in various forms (for example, by the US or EU) and cover many products, though there are rules of origin and eligibility limits to ensure the benefits reach the intended countries. This differs from regional blocs like AfCFTA, which are agreements among African nations to reduce tariffs among themselves, or from vague labels like “Trade Blocs (Africa),” and it isn’t related to fixed costs.

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