The General Agreement on Tariffs and Trade is now governed by the World Trade Organization.

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The General Agreement on Tariffs and Trade (GATT),now governed by the World Trade Organization,regulates import duties among signatory countries to reduce barriers to trade and to ensure fair treatment.Without GATT,it is argued,countries with stronger markets would be able to secure better deals on imports than would other countries.

The General Agreement on Tariffs and Trade Is Now Governed