Question : Which of the following statements true regarding the Omnibus Trade : 7959
Which of the following statements is true regarding the Omnibus Trade and Competitiveness Act of 1988?
It has led to the inclusion of a greater number of products on the export control list.
It is based on the realization that the U.S. must deal with trading partners based on how they want them to behave, and not on how these partners actually operate.
It covers two areas of U.S. trade: market relief and import expansion.
It has made it much more difficult to obtain export licenses.
It has established a basis for negotiations with India and Japan to remove or lower barriers to trade.