Question

On what date did the GTPs go into effect?

a. May 25, 2204
b. May 14, 2004
c. May 14, 2005
d. May 25, 2005

Answer 1

The General Agreement on Tariffs and Trade (GATT) went into effect in June 1948. It aimed to promote trade liberalization and reduce protectionist policies. The agreement included tariff concessions and preferential rates on taxes or duties for imports.

Step-by-step explanation:

The General Agreement on Tariffs and Trade (GATT) went into effect in June 1948. This agreement was signed in October 1947 and aimed to promote trade liberalization and reduce protectionist policies that had been in place since the early 1930s. It included tariff concessions and preferential rates on taxes or duties for imports.