PS147WTO - World Trade Organization (+ 1) Original Name...

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World Trade Organization (+ 1) Original Name General Agreement on Tariffs and Trade (GATT) came out because 1947 because of failure of Internation Trade Organization club of liberalized traders that would get together and engage in negations regarding how to liberalize trade. if you were a member you got (Most Favored Nation Status) MFN o most favored nation status receive reciprocity and nondiscrimination reciprocity one country would reduce tariff the other country would do the same nondiscrimination no they would have to extend reduction to everyone else suppose to lend to an overall reduction of trade barriers and make a free trade world things changed in the 1995 when GATT (only concerned with goods_ became) WTO (which recognized services as an increasingly important part of globalized trade as well as property) provided a mechanism to… GATT went from club of 30 member to a institution with 158 members. membership most be approved by all new members
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This note was uploaded on 03/23/2011 for the course POLI SCI PS 147 taught by Professor Reyes during the Winter '11 term at UCSB.

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PS147WTO - World Trade Organization (+ 1) Original Name...

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