Asked by Steven McCoy on Jun 13, 2024
Verified
A forum to discuss trade problems and negotiate a reduction of trade barriers was first provided by the:
A) General Agreement on Tariffs and Trade (GATT) .
B) North American Free Trade Agreement (NAFTA) .
C) World Bank.
D) Exim bank.
E) International Monetary Fund (IMF) .
General Agreement
A broad consensus or collective understanding reached by different parties on a specific set of terms or conditions.
Trade Barriers
Restrictions that governments place on international trade to protect domestic industries or to affect the balance of trade.
- Pinpoint the major worldwide economic and commerce organizations and their activities.
Verified Answer
KG
Kaylin GrouchyJun 20, 2024
Final Answer :
A
Explanation :
The General Agreement on Tariffs and Trade (GATT) was established in 1947 as a forum for nations to discuss trade problems and negotiate the reduction of trade barriers. Its main objective was to promote international trade by reducing or eliminating trade barriers such as tariffs and quotas.
Learning Objectives
- Pinpoint the major worldwide economic and commerce organizations and their activities.
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