Discussion
Consider the following statements about 'Rules of Origin' :
1. Rules of Origin are the criteria needed to determine the national source of a product.
2. Rules of Origin help the custom agencies to know what regulations and fees apply to a given product.
3. These are used for the purpose of trade statistics.
4. Their importance is derived from the fact that duties and restrictions in several cases depend upon the sources of imports.
Which of the above statements are correct?
Answer: D
All four statements are correct: All of the above.
Rules of origin are the criteria for deciding the national source of a product (1). Customs authorities use them to decide which duties, quotas, preferences and other regulations apply to an import (2) and to compile trade statistics (3). They matter because, in many cases, duties and restrictions depend on where an import comes from, especially under free trade agreements and anti-dumping measures (4).
Each narrower option leaves out a correct statement.
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