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GATT stands for ________ on Tariffs and Trade.
A) General Agreement
B) General Argument
C) Global Agreement
D) Global Argument
E) Global Achievement
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Diesel
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bbb
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10 years ago
A) The General Agreement on Tariffs and Trade (GATT) was created in 1948 with 23 member nations and grew to a membership of 123 by 1994. Although GATT was not an organization with any real enforcement powers, its eight rounds of negotiated agreements or treaties were very successful in reducing tariffs and other obstacles to free trade on goods. This, in turn, spurred significant world economic growth.
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