Among the various provisions of the World Trade Organization (WTO),
a formalized process functions akin to an international court, providing a structured approach to resolving trade disputes between member countries. This process is essential for maintaining order and fairness in global trade. Which of the following systems best describes this function?
a. Tariff Negotiation and Reduction, focused on multilateral trade barrier reductions
b. Trade Policy Review Mechanism (TPRM),which monitors trade policy compliance
c. Most Favored Nation (MFN) Principle, which prevents discriminatory trade practices
d. Dispute Settlement System, providing a judicial-like process for resolving trade disputes