General Agreement on Tariffs and Trade (GATT)

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General Agreement on Tariffs and Trade (GATT)

A. is an accord reached between 100 countries in 1980

B. reduced some tariffs by 80 percent on average

C. removed some tariffs over a five- to ten-year period

D. made more progress on reducing tariffs in service industries than in manufacturing industries

Answer: Option C

Solution (By Examveda Team)

General Agreement on Tariffs and Trade (GATT) removed some tariffs over a five- to ten-year period. It was a free trade agreement between 23 countries that eliminated tariffs and increased international trade.

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