What is the name of the global organization with 160+ countries that governs trade rules?

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Multiple Choice

What is the name of the global organization with 160+ countries that governs trade rules?

The World Trade Organization is the global body that governs trade rules today. It was established in 1995, taking over and expanding on the General Agreement on Tariffs and Trade (GATT), which operated earlier. With 160+ member countries, the WTO provides a forum to negotiate trade agreements and a formal mechanism to resolve disputes when countries believe trade rules are being violated. It covers goods, services, and intellectual property rules, making trade across borders more predictable and rules-based. In contrast, the IMF and World Bank focus on financial stability and development lending, not on setting or enforcing trade rules, and GATT was the older framework behind the current system.

The World Trade Organization is the global body that governs trade rules today. It was established in 1995, taking over and expanding on the General Agreement on Tariffs and Trade (GATT), which operated earlier. With 160+ member countries, the WTO provides a forum to negotiate trade agreements and a formal mechanism to resolve disputes when countries believe trade rules are being violated. It covers goods, services, and intellectual property rules, making trade across borders more predictable and rules-based. In contrast, the IMF and World Bank focus on financial stability and development lending, not on setting or enforcing trade rules, and GATT was the older framework behind the current system.

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