The General Agreement on Tariffs and Trade established the World Trade Organization (WTO), which replaced GATT in 1995 and now oversees the original GATT provisions.

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This statement is true. The WTO was established on January 1, 1995, replacing GATT as the global organization responsible for overseeing international trade agreements and resolving trade disputes among its member countries. The WTO builds upon the original GATT provisions while also expanding its scope to include new areas such as intellectual property rights and services trade.

The General Agreement on Tariffs and Trade Established the World