What is the Uruguay Round Agreement?
The Uruguay Round of talks from 1986 to 1994 led to numerous changes and updates to the General Agreement on Tariffs and Trade (GATT), the precursor to the World Trade Organization. These agreements now function as the framework the WTO uses to settle disputes and establish rules for global trade policy. Recognizing the importance of smooth, predictable and free trade, the approximately 130 WTO member nations agree to abide by the system.
