Final answer:
The World Trade Organization (WTO) has the goal to guide the nations of the world toward free trade and open markets. It was established in 1995 and replaces the General Agreement on Tariffs and Trade (GATT). The WTO supports international trade, reduces trade barriers, and resolves trade disputes between countries.
Step-by-step explanation:
The World Trade Organization (WTO) has the goal to guide the nations of the world toward free trade and open markets.
The WTO was established in 1995, replacing the General Agreement on Tariffs and Trade (GATT), and it aims to support international trade, reduce trade barriers, and resolve trade disputes between countries.
Unlike GATT, the WTO is an organization, not a free trade agreement, that ensures nondiscriminatory trade between its member nations.