The failure of the Tokyo Round of negotiations led to the creation of the World Trade Organization in 1947.

Question

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The Tokyo Round of negotiations took place from 1973 to 1979, and while it did not result in a comprehensive agreement, it did lead to the creation of the General Agreement on Tariffs and Trade (GATT) in 1947. The World Trade Organization (WTO) was actually created in 1995 to replace GATT as the global organization responsible for regulating international trade.

The Failure of the Tokyo Round of Negotiations Led to the Creation