The current WTO-led multilateral trading system has yet to produce a major advance in trade liberalization.

Question

Quizplus · Accepted Answer

While the WTO has made progress in some areas, such as lowering tariffs and reducing trade barriers, there has not been a major breakthrough in trade liberalization since the Uruguay Round negotiations in the 1980s and 1990s. Many recent trade deals have been bilateral or regional in nature, rather than multilateral, signaling a lack of progress within the WTO-led system.

The Current WTO-Led Multilateral Trading System Has Yet to Produce