Which one of the following was agreed upon and launched at the end of the Uruguay Round trade talks?
A) GATT
B) The EU
C) The WTO
D) The Multifiber Arrangement

Question

Quizplus · Accepted Answer

The WTO (World Trade Organization) was agreed upon and launched at the end of the Uruguay Round trade talks. GATT (General Agreement on Tariffs and Trade) was the previous system for international trade rules, but it was replaced by the WTO. The EU (European Union) is a regional organization consisting of European countries, and the Multifiber Arrangement was an agreement that regulated the trade of textiles and clothing. The Uruguay Round trade talks resulted in the creation of the World Trade Organization (WTO) which replaced the General Agreement on Tariffs and Trade (GATT) as the governing body for international trade. The European Union (EU) existed prior to the Uruguay Round and was not launched at the end of the talks. The Multifiber Arrangement was actually phased out in the 1990s as part of the Uruguay Round agreements.

Which One of the Following Was Agreed Upon and Launched