The General Agreement on Tariffs and Trade (GATT) was given powers to arbitrate and make rulings on trade disputes

Question

Quizplus · Accepted Answer

The GATT provided a framework for negotiating and implementing trade agreements and resolving disputes, but it did not have the power to enforce its rulings. The World Trade Organization (WTO), which succeeded GATT in 1995, was given the authority to arbitrate and enforce trade agreements.

The General Agreement on Tariffs and Trade (GATT) Was Given