FORESTRY
AGRICULTURAL EXTENSION
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
What was the purpose of the General Agreement of Tariffs and Trade? (GATT)
|
|
To demote international trade by removing trade barriers.
|
|
|
To promote international trade by adding trade barriers.
|
|
|
To promote national trade in America by removing trade barriers.
|
|
|
To promote international trade by removing trade barriers.
|
Explanation:
Detailed explanation-1: -The General Agreement on Tariffs and Trade (GATT) is a legal agreement between many countries, whose overall purpose was to promote international trade by reducing or eliminating trade barriers such as tariffs or quotas.
Detailed explanation-2: -GATT negotiating rounds were highly successful in lowering tariffs, leading to almost a 40% reduction in tariffs on industrial goods. Later negotiating rounds began including commitments to reduce non-tariff barriers to trade.
Detailed explanation-3: -GATT promotes free trade by establishing rules and procedures for the settlement of trade disputes and by encouraging countries to lower their trade barriers and reduce their tariffs on imported goods.
There is 1 question to complete.