What is the primary purpose of the World Trade Organization's dispute settlement mechanism?
A
Setting global tariffs
B
Resolving trade disputes between member states
C
Issuing currency regulations
D
Managing global aid funds
Correct Answer: Option B — Resolving trade disputes between member states
Explanation:
The WTO's dispute settlement mechanism provides a structured process for member states to resolve trade disagreements, ensuring adherence to multilateral trade rules and preventing unilateral trade retaliation.