alleryStart learning →What did the Uruguay Round of trade negotiations achieve?
AIt fixed the exchange rates of the signatory nations
BIt created a single currency for the signatory nations
CIt dramatically lowered trade barriers worldwide
DIt abolished every quota held by the signatory nations
Answer & Solution
Correct answer: C. It dramatically lowered trade barriers worldwide
1. The Uruguay Round is an agreement adopted in 1994.
2. It dramatically lowered trade barriers worldwide.
3. It is described as the most ambitious global trade agreement ever negotiated.
4. It reduced tariffs by one-third worldwide.
5. Currencies and exchange rates were not part of what the round settled.
_Source: OpenStax Introduction to Business (CC BY 4.0), Ch 3 "Competing in the Global Marketplace", section 3.4 Fostering Global Trade_
Keep practising Competing in the Global Marketplace
Browse all Competing in the Global Marketplace questions for BBA International Business, or explore more International Business topics.
Related questions
How many Sustainable Development Goals did the United Nations member nations adopt in 2015What defines a multinational corporation?How is Gross National Income defined?What is infrastructure?Why does business slow down in Muslim countries during Ramadan?What is nationalism?What is countertrade?What is direct foreign investment?