The _____ is a trade agreement that has dramatically lowered trade barriers worldwide and also created the World Trade Organization.
A)European Union
B)General Agreement on Tariffs and Trade (GATT)
C)North American Free Trade Agreement (NAFTA)
D)Uruguay Round

Question

​The _____ is a trade agreement that has dramatically lowered trade barriers worldwide and also created the World Trade Organization.
A)European Union
B)​General Agreement on Tariffs and Trade (GATT)
C)​North American Free Trade Agreement (NAFTA)
D)Uruguay Round

Quizplus · Accepted Answer

The Uruguay Round refers to a series of negotiations held from 1986 to 1994 that led to the creation of the World Trade Organization and the signing of the General Agreement on Tariffs and Trade (GATT). The Uruguay Round was a significant moment in global trade as it led to the reduction of trade barriers and the liberalization of several sectors, including agricultural trade. The European Union is a political and economic union of 27 member states located primarily in Europe, and the North American Free Trade Agreement (NAFTA) is a trade agreement between the United States, Canada, and Mexico that came into effect in 1994.

​The _____ Is a Trade Agreement That Has Dramatically Lowered

The _____ Is a Trade Agreement That Has Dramatically Lowered