Question

The ____, an accord among 117 nations, called for lower tariffs around the world. a. European Union Accord b. North American Free Trade Agreement (NAFTA) c. General Agreement on Tariffs and Trade (GATT) d. None of these are correct. e. Single European Act of 1987

Answer 1

The correct answer is letter "C": General Agreement on Tariffs and Trade (GATT).

Step-by-step explanation:

The General Agreement on Tariffs and Trade (GATT) is a treaty effective from 1948 that pursues fairness when it comes to international trade by reducing tariffs and that promotes equal treatment among countries. The GATT was replaced by the World Trade Organization (WTO) in 1995 under the same objectives but with more participation of the member nations.