Which of the following is a provision of the Uruguay Round Agreement?

QUESTION

Which of the following is a provision of the Uruguay Round Agreement?

A. A wide range of services were to be excluded from GATT fair trade and market access rules.

B. Tariffs on industrial goods were to be raised by more than one-third, and tariffs were to be scrapped on more than 50 percent on a wide range of services.

C. The International Monetary Fund (IMF) was to be created to implement the GATT agreement.

D. Barriers on trade in textiles were to be significantly reduced over 10 years.

E. Average tariff rates imposed by developed nations on manufactured goods were to be raised by 20 percent of the value, the highest level in modern history.

ANSWER

D