Question

The GATT became part of the World Trade Organization in 1995, with the ratification of the Uruguay Round agreements

A) True, the GATT was seamlessly integrated into the WTO structure
B) False, the GATT continued to exist independently of the WTO
C) Partially true, the GATT influenced the formation of the WTO
D) Incorrect, the Uruguay Round agreements did not impact the GATT's status

Answer 1

The GATT was indeed transformed into the WTO in 1995, with a broader scope for managing international trade leading to the seamless integration of GATT agreements into the structure of the WTO.

Step-by-step explanation:

Upon the ratification of the Uruguay Round agreements in 1995, the General Agreement on Tariffs and Trade (GATT) was indeed transformed into the World Trade Organization (WTO). Answer A) True, the GATT was seamlessly integrated into the WTO structure, correctly responds to the student's question. The WTO succeeded GATT as a global institution aimed to manage and encourage international trade. Its creation marked a significant milestone in the push for globalization, establishing a more comprehensive framework to support trade negotiations, settle disputes, and enforce trade rules among its members. The transition from GATT to WTO signified the evolution from a set of agreements to a formal organization, extending the scope beyond just trade in goods to include services, intellectual property, and other trade-related issues.