The General Agreement on Tariffs and Trades (GATT)________.

Question

Quizplus · Accepted Answer

The General Agreement on Tariffs and Trade (GATT) was a multilateral agreement aimed at reducing barriers to international trade and promoting free trade. It played a significant role in reducing protectionism and promoting trade liberalization among participating countries. It was established in 1947, not by the United States alone, but through a series of negotiations among multiple countries. It was not composed of ten developed nations making trade decisions for all other countries, nor did it encourage business corruption.