Which of the following statements is true of the General Agreement on Tariffs and Trade (GATT) treaty?

A) It was created with the motive to increase import and export tariffs.
B) It was intended to reduce free trade in favor of protectionism.
C) It provided a multilateral forum to resolve trade disputes between member countries.
D) It encouraged countries to buy only from preferred partners.

General Agreement

A broadly accepted understanding or accord among parties on a particular issue or set of issues.

Tariffs and Trade

Taxes imposed on imported goods, often used by governments to protect domestic industries from foreign competition and generate revenue.

Multilateral Forum

An international platform where multiple countries come together to discuss and negotiate issues of mutual interest.