The General Agreement on Tariffs and Trade is an attempt to impose significant tariffs on business between nations.

Question

Quizplus · Accepted Answer

The General Agreement on Tariffs and Trade (GATT) was actually an international agreement that aimed to reduce tariffs and other barriers to international trade. It was created in 1947 and eventually led to the formation of the World Trade Organization (WTO) in 1995. Therefore, it was not an attempt to impose significant tariffs, but rather to promote free and open trade between nations.

The General Agreement on Tariffs and Trade Is an Attempt