GATT Quiz

To substantially reduce tariffs and trade barriers (correct)

To establish preferences on a reciprocal basis

To eliminate tariffs on all imports

To regulate trade among 153 countries

Exemption of developing countries from GATT provisions

Establishment of the WTO in 1995 (correct)

Introduction of preferential trade agreements

Expansion of GATT membership to 153 countries

Preferential treatment for developing countries

Unrestricted import and export quotas

MFN status (correct)

Tariff elimination on all imports

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