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The _____ replaced the general agreement on tariffs and trade (gatt) and absorbed its mission in 1995.

Sagot :

The WTO replaced the general agreement on tariffs and trade (GATT) and absorbed its mission in 1995. The World Trade Organization (WTO) is the only international organization that deals with global trade rules. Its primary function is to keep trade flowing as easily, predictably, and freely as possible.

The GATT (General Agreement on Tariffs and Trade) regulates international trade in goods. The Council for Trade in Goods (Goods Council), which is made up of representatives from all WTO member countries, is in charge of the operation of the GATT agreement.

Tariffs are customs duties levied on imported goods.

To know more about WTO, click here.

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