What is the Uruguay Round of GATT?

The Uruguay Round of GATT is an international trade law that was adopted in 1994 by the World Trade Organization (WTO). It is named after the country of Uruguay, who hosted the multilateral trade negotiations from 1986-1993 that led to its passage. The Uruguay Round is the largest and most comprehensive trade liberalization initiative ever undertaken. It reduced tariffs and other trade barriers, while introducing a number of worldwide trade regulations. The Round made improvements in intellectual property rights protection and international dispute handling procedures. It also introduced new multilateral agreements, including the Agreement on Trade Related Aspects of Intellectual Property Rights (TRIPS) and the General Agreement on Trade in Services (GATS). The Uruguay Round also led to the creation of the WTO, which administers the rules of international trade among member states. In Florida, the Uruguay Round has had a direct impact on trade, with decreased tariffs and other advantages without having to independently negotiate deals with other countries. The Uruguay Round has brought Florida closer to global economic integration and has reduced the costs for goods and services imported to and exported from Florida.

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What is the Uruguay Round of GATT?

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