Decisions made by the ______ regarding trade disputes are binding on the parties involved.
A) World Bank
B) General Agreement on Tariffs and Trade (GATT)
C) North American Free Trade Agreement (NAFTA)
D) International Monetary Fund (IMF)

Question

Quizplus · Accepted Answer

The GATT was formed to regulate international trade and its decisions regarding trade disputes are binding on the parties involved. It has been replaced by the World Trade Organization (WTO) but its rules and agreements still apply. The World Bank, NAFTA, and IMF are not primarily focused on trade dispute resolution.

Decisions Made by the ______ Regarding Trade Disputes Are Binding