The basic underlying principle of GATT was:
A)free and equal trade.
B)it was unethical to form trade blocs by the developed nations.
C)that free trade was unrealistic and damaging to individual nations.
D)that tariff barriers were important for the development of a country.
E)that the MFN concept was anti-trade and discriminatory in nature.

Question

Quizplus · Accepted Answer

The basic underlying principle of the General Agreement on Tariffs and Trade (GATT) was to promote free and equal trade among nations by reducing tariffs and other trade barriers.

The Basic Underlying Principle of GATT Was