Final answer:
The General Agreement on Tariffs and Trade (GATT) transformed into the World Trade Organization (WTO) in 1995. GATT aimed to reduce trade barriers and promote international trade, while the WTO continues these objectives by ensuring nondiscriminatory trade between member countries.
Step-by-step explanation:
The General Agreement on Tariffs and Trade (GATT) transformed into the World Trade Organization (WTO) in 1995. GATT was an international trade agreement among countries to reduce trade barriers, such as tariffs and non-tariff barriers. It aimed to promote international trade and resolve trade disputes.
The WTO continues these objectives by ensuring nondiscriminatory trade between its member countries. It is important to note that while GATT aimed for free trade, the WTO allows trade barriers as long as they apply equally to all members.