The General Agreement on Tariffs and Trade (GATT) expanded considerably into a multilateral trading system called _____.
A) EU
B) NAFTA
C) UN
D) WTO

Question

The General Agreement on Tariffs and Trade (GATT) expanded considerably into a multilateral trading system called _____.
A) EU 
B) NAFTA 
C) UN 
D) WTO

Quizplus · Accepted Answer

GATT was replaced by the World Trade Organization (WTO) in 1995, which expanded the scope of its predecessor and created a more comprehensive multilateral trading system. The EU and NAFTA are regional trading agreements, while the UN is a global organization focused on international cooperation, including in trade but not exclusively.

The General Agreement on Tariffs and Trade (GATT) Expanded Considerably