Question

(MC)What was the result of the General Agreement on Tariffs and Trade (GATT) meeting in 1993 during the Clinton administration?

Answer 1

The result of the General Agreement on Tariffs and Trade (GATT) meeting in 1993 during the Clinton administration was the creation of the World Trade Organization (WTO).

The General Agreement on Tariffs and Trade (GATT) is a legal agreement between many countries, whose purpose was to foster international trade by reducing or eliminating trade barriers such as tariffs or quotas.

GATT was signed by 23 nations in Geneva on 30 October 1947, and took effect on 1 January 1948. It remained in effect until 123 nations in Marrakesh on 14 April 1994, signed the Uruguay Round Agreements, which created the World Trade Organization (WTO) on 1 January 1995. The WTO is a successor to GATT.