As a result of GATT,tariff rates in developed countries have decreased from 40 percent in 1948 to less than 4 percent today.

Question

Quizplus · Accepted Answer

GATT (General Agreement on Tariffs and Trade) was formed in 1948 with the aim of reducing trade barriers between member countries. As a result of GATT, tariff rates in developed countries have decreased from an average of 40 percent in 1948 to less than 4 percent today.

As a Result of GATT,tariff Rates in Developed Countries Have