The General Agreement on Tariffs and Trade was a precursor to the World Trade Organization and provided a forum for tariff negotiations. True False

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Business

Griffen

23 April, 16:44

The General Agreement on Tariffs and Trade was a precursor to the World Trade Organization and provided a forum for tariff negotiations. True False

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Rayan Stafford · Answer 1

True

Explanation:

The General Agreement on Tariffs and Trade (GATT) was introduced because of its principal function to allow trading without discrimination that is market are equally transacted within member nations.

For example: when a member country and its trading partners had agreed to reduce a tariff, that tariff cut will be automatically extended to every other GATT member.