When was the General Agreement on Tariffs and Trade (GATT) established, and why?
A) in 1870, to protect U.S. industries and decrease world trade
B) in 1921, to manage legal and accounting requirements for U.S. tariffs and quotas
C) in 1947, to reduce trade restrictions among 23 countries
D) in 1973, to increase trade restrictions, after OPEC significantly raised oil prices
Correct Answer:
Verified
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