The two most important institutions that monitor international trade policies are _____.
A)NAFTA (North American Free Trade Association)and the World Bank
B)the World Bank and the EU (European Union)
C)GATT (General Agreement on Tariffs and Trade)and WTO (World Trade Organization)
D)WTO (World Trade Organization)and NAFTA (North American Free Trade Association)

Question

Quizplus · Accepted Answer

The World Trade Organization (WTO) and the General Agreement on Tariffs and Trade (GATT) are central in monitoring and regulating international trade policies. GATT was a legal agreement between many countries, whose overall purpose was to promote international trade by reducing or eliminating trade barriers such as tariffs or quotas. It was replaced by the WTO in 1995, which now oversees global trade rules and agreements.

The Two Most Important Institutions That Monitor International Trade Policies