the general agreement on tariffs and trade and the world trade organization have resulted in a. the establishment of universal trade adjustment assistance policies. b. the establishment of the european union. c. the reciprocal trade clause. d. reductions in trade barriers via multilateral negotiations.

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21-11-2022
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the general agreement on tariffs and trade and the world trade organization have resulted in a. the establishment of universal trade adjustment assistance policies. b. the establishment of the european union. c. the reciprocal trade clause. d. reductions in trade barriers via multilateral negotiations.

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alifaijal77 alifaijal77 · Answer 1 · 2022-12-02T06:59:59+01:00

the general agreement on tariffs and trade and the world trade organization have resulted in Reductions in trade barriers via multilateral negotiations. Therefore option D is correct.

What is the general agreement on tariffs and Trade?

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The General Agreement on Tariffs and Trade (GATT), which was ratified by 23 nations in 1947, lowers trade restrictions by doing away with or decreasing quotas, tariffs, and subsidies. After World War II, it was designed to accelerate economic recovery.

Over time, GATT was expanded upon and improved, and as a result, the World Trade Organization (WTO), which had been established to carry out GATT, was born in 1995. By that time, 125 countries had ratified their accords, which encompassed 90% of world commerce.

The GATT is currently managed by the Council for Trade in Goods (Goods Council), which is made up of representatives from every WTO member state. Etienne Oudot de Danville will serve as the Goods Council's chairman as of September 2022. There are ten committees on the council that deals with issues including anti-dumping laws, market access, and agriculture.

To learn more about general agreement on tariffs and Trade follow the link.

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