Which of the following reduced the world's merchandise tariffs by 30 percent,toughened international protection of copyrights and trademarks,and has been extended to cover trade in agriculture and a wide range of services?
A) GATT
B) EU
C) NAFTA
D) CAFTA
E) FTAA

Question

Quizplus · Accepted Answer

GATT (General Agreement on Tariffs and Trade) was a multilateral agreement aimed at reducing trade barriers between nations. In 1995, it was replaced by the World Trade Organization (WTO), which continued the mission of promoting freer trade. GATT/WTO negotiations have led to a series of trade agreements, including the Uruguay Round, which resulted in the reduction of tariffs by an average of 30 percent across all sectors of the economy. The agreements also strengthened intellectual property rights protections and expanded trade in services and agriculture.

Which of the Following Reduced the World's Merchandise Tariffs by 30