Search results
Results from the WOW.Com Content Network
The World Trade Organization (WTO) is an intergovernmental organization headquartered in Geneva, Switzerland [6] that regulates and facilitates international trade. [7] Governments use the organization to establish, revise, and enforce the rules that govern international trade in cooperation with the United Nations System .
The World Trade Organization's predecessor, the General Agreement on Tariffs and Trade (GATT), was established after World War II in the wake of other new multilateral institutions dedicated to international economic cooperation – notably the Bretton Woods institutions known as the World Bank and the International Monetary Fund.
The International Trade Organization (ITO) was the proposed name for an international institution for the regulation of trade. Led by the United States in collaboration with allies, the effort to form the organization from 1945 to 1948, with the successful passing of the Havana Charter, eventually failed due to lack of approval by the US Congress.
The purpose of joining these organizations is to come to agreement with other nations on trade issues, although there is domestic political controversy to whether or not the U.S. government should be making these trade agreements in the first place. These organizations include: World Trade Organization; Organization of American States
When trade takes place between two or more states, factors like currency, government policies, economy, judicial system, laws, and markets influence trade. To ease and justify the process of trade between countries of different economic standing in the modern era, some international economic organizations were formed, such as the World Trade ...
Yet in responding to this latest trade move by China in the renewed trade conflict between the two countries, the U.S. government did not mention WTO law. Nor, in reporting on the event, did the U ...
The term "plurilateral agreement" is used in the World Trade Organization. A plurilateral agreement implies that WTO member countries would be given the choice to agree to new rules on a voluntary basis. This contrasts with the multilateral WTO agreement, where all WTO members are party to the agreement.
The World Trade Organization has become an obstacle to improving the U.S. trade balance, as it grants "developing country" status to nations like China, allowing them to receive trade concessions ...