Every country engages in some form of protectionism.However,protectionism has declined internationally over the past 50 years due in large part to the
A) United Nations Agreement on Trade (UNAT).
B) North American Free Trade Agreement (NAFTA).
C) General Agreement on Tariffs and Trade (GATT).
D) North Atlantic Treaty Organization (NATO).
E) World Trade Association Treaty (WTAT).

Question

Quizplus · Accepted Answer

The General Agreement on Tariffs and Trade (GATT) was a significant international agreement aimed at reducing barriers to trade and promoting free trade. It was in effect from 1948 to 1995 and provided a framework for negotiating and implementing trade agreements. GATT was succeeded by the World Trade Organization (WTO), which continues to promote free trade and reduce protectionism. While all of the other options listed may have contributed to the reduction of protectionism to some extent, GATT/WTO is the most significant and widely recognized international agreement in this area.

Every Country Engages in Some Form of Protectionism