In 1995,the General Agreement on Tariffs and Trade (GATT),which was established in 1948,was replaced by the World Trade Organization (WTO).Why did members of the GATT push for the establishment of the WTO?
A)The GATT agreement only covered trade in goods.The WTO was created to cover trade in goods,services,and intellectual property.
B)The charter of the GATT had run out and a new organization was needed to promote international trade.
C)The creation of the European Union (EU)made the GATT obsolete.The WTO was formed to regulate trade between the EU and other nations.
D)By 1995 tariffs had been eliminated.The WTO was created to reduce non-tariff trade barriers.

Question

Quizplus · Accepted Answer

The GATT primarily focused on trade in goods, and there was a need to create an organization that could also cover trade in services and intellectual property, leading to the establishment of the WTO.

In 1995,the General Agreement on Tariffs and Trade (GATT),which Was