A major flaw of the original General Agreement on Tariffs and Trade (GATT) was that it lacked the power to ________.
A) erect barriers to trade
B) dismantle bilateral trade agreements
C) govern exchange rates
D) enforce world trade rules

Question

Quizplus · Accepted Answer

The original GATT lacked the power to enforce world trade rules, which meant that member countries could violate the agreed-upon rules without facing consequences. This was a major flaw that was addressed in the creation of the World Trade Organization (WTO), which was established to enforce and regulate international trade.

A Major Flaw of the Original General Agreement on Tariffs