The General Agreement on Tariffs and Trade was a precursor to the World Trade Organization and provided a forum for tariff negotiations. True False
Business · High School · Sun Jan 24 2021
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That statement is true.
The General Agreement on Tariffs and Trade (GATT) indeed served as a precursor to the establishment of the World Trade Organization (WTO). GATT was an international agreement focused on reducing trade barriers and facilitating trade among member countries. It provided a platform for negotiations on tariffs and trade policies, aiming to promote international trade and economic cooperation. The GATT negotiations eventually led to the creation of the World Trade Organization in 1995, which inherited and expanded upon GATT's principles and agreements