Founded in 1947,the General Agreement on Trade and Tariffs established rules aimed at
A) increasing sovereignty and strengthening the UN.
B) reducing trade barriers and mediating trade disputes.
C) the gold standard and fixed exchange rates.
D) establishing bilateral trade relations.

Question

Quizplus · Accepted Answer

The General Agreement on Trade and Tariffs (GATT) was established in 1947 with the goal of reducing trade barriers and mediating trade disputes. It served as a forum for negotiations and helped to liberalize global trade. The GATT was later replaced by the World Trade Organization (WTO) in 1994, which continues to work towards reducing trade barriers and promoting international trade.

Founded in 1947,the General Agreement on Trade and Tariffs Established