The World Trade Organization is the successor to which treaty?

The World Trade Organization is the successor to which treaty?

• A. NAFTA
• B. GATT
• C. Maastricht Treaty
• D. Kyoto Protocol

Answer: (B)

Evolution of global trade governance: the WTO’s origin lies in the General Agreement on Tariffs and Trade (GATT). GATT started after World War II to reduce tariffs and establish binding rules for trade in goods, operating as a framework of agreements and rounds of negotiations. In 1995, after the Uruguay Round, GATT was incorporated into the newly created World Trade Organization, which took over as the formal international body overseeing trade rules and resolving disputes, and it broadened the scope to include services, intellectual property, and more. The other options don’t fit because NAFTA is a regional trade agreement, Maastricht is about the European Union, and the Kyoto Protocol deals with climate policy, not trade rules.

Evolution of global trade governance: the WTO’s origin lies in the General Agreement on Tariffs and Trade (GATT). GATT started after World War II to reduce tariffs and establish binding rules for trade in goods, operating as a framework of agreements and rounds of negotiations. In 1995, after the Uruguay Round, GATT was incorporated into the newly created World Trade Organization, which took over as the formal international body overseeing trade rules and resolving disputes, and it broadened the scope to include services, intellectual property, and more. The other options don’t fit because NAFTA is a regional trade agreement, Maastricht is about the European Union, and the Kyoto Protocol deals with climate policy, not trade rules.