India and other members of the World Trade Organisation (WTO) have criticized the European Union’s decision to extend its existing safeguard measure on steel products imposed under the WTO Agreement on Safeguards. What is the objective of the World Trade Organization (WTO) Agreement on Safeguards?
1
To temporarily limit imports of a product to protect a nation's domestic industries
2
To eliminate price support in international trade
3
To oversee the trading of dual-purpose items
4
To control the international trade of weapons
5
To inhibit the misuse of trade subsidies