What was the outcome for GATT, after the ratification of the Uruguay Round agreements?
A) It came into effect retrospectively, leading to huge payment deficits for member nations.
B) It became part of the World Trade Organization.
C) It triggered formation of competitive treaties from Asian nations.
D) The European Union decided to stay away from the treaty.
E) The original purpose was sidelined in favor of political and military intervention between member states.

Question

Quizplus · Accepted Answer

With the ratification of the Uruguay Round agreements, the GATT became part of the World Trade Organization (WTO) in 1995, and its 117 original members moved into a new era of free trade.

What Was the Outcome for GATT, After the Ratification of the Uruguay