Out of GATT came a series of "rounds," or negotiations,that resulted in the lowering of barriers,such as the Uruguay Round.

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The World Trade Organization (WTO)is designed to monitor and enforce trade agreements.WTO succeeded GATT as the world forum for trade negotiations in 1995 and has the formal legal structure for deciding trade disputes.Out of GATT came a series of "rounds," or negotiations,that resulted in the lowering of barriers;for instance,the Uruguay Round,implemented in 1996,cut tariffs by one-third.

Out of GATT Came a Series of "Rounds," or Negotiations,that