GATT, or the General Agreement on Tariffs and Trade, was indeed the interim committee designed to implement the International Trade Organization (ITO), which never came into existence. GATT was established in 1947 to provide a framework for international trade negotiations and the reduction of trade barriers.

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GATT Was

Question 50

Multiple Choice

GATT was:

A) part of the International Monetary Fund.
B) part of the World Bank.
C) part of the United Nations.
D) the interim committee designed to implement the International Trade Organization.
E) founded by the United Nations.

Correct Answer: