What was the outcome for GATT after the ratification of the Uruguay Round agreements?
A) GATT allowed the United States to increase its import tax.
B) GATT became part of the World Trade Organization.
C) GATT directly led to the uneven distribution of economic power and potential.
D) The European Union decided to stay away from the treaty.
E) The original purpose was sidelined in favor of political and military intervention between member states.

Question

Quizplus · Accepted Answer

The General Agreement on Tariffs and Trade (GATT) became part of the World Trade Organization (WTO) after the ratification of the Uruguay Round agreements, which concluded in 1994. This transition marked a significant evolution in global trade regulation, expanding the scope beyond tariffs to include trade in services and intellectual property rights.

What Was the Outcome for GATT After the Ratification of the Uruguay