Asked by Waldie Alameda on May 12, 2024
Verified
The World Trade Organization was established by the United States to force other nations to open their markets to U.S. goods.
World Trade Organization
An international organization that regulates and facilitates international trade between nations.
U.S. Goods
Products and services that are produced within the United States.
- Recognize the functions and critiques associated with global trade institutions like the World Trade Organization.
- Understand the importance of trade agreements and their effect on global trade relations.
Verified Answer
AM
Ankush MukhiMay 14, 2024
Final Answer :
False
Explanation :
The World Trade Organization (WTO) was not established by the United States alone. It was founded on January 1, 1995, and is now comprised of 164 member states, including the United States. The purpose of the WTO is to ensure free and fair trade among its member states by providing a forum for negotiations and resolving disputes. The WTO does not exist solely to benefit the United States or any other single country.
Learning Objectives
- Recognize the functions and critiques associated with global trade institutions like the World Trade Organization.
- Understand the importance of trade agreements and their effect on global trade relations.
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