Following World War II the United States and other countries sought to liberalize trade among each other the first major postwar step toward trade liberalization was the ?
Correct answer: A. General Agreement on Tariffs and Trade
- A. General Agreement on Tariffs and Trade
- B. World Trade Organization
- C. Smoot Hawley Organization
- D. McKinley Agreement on Trade policy
Explanation
The General Agreement on Tariffs and Trade was the first major postwar framework for reducing tariffs and liberalizing trade. The WTO was created much later, in 1995, as the successor institution to GATT.
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