Uruguay Round

The Uruguay Round was a series of negotiations from 1986 to 1994 under the General Agreement on Tariffs and Trade (GATT), involving many countries aiming to improve global trade. It sought to reduce tariffs, eliminate trade barriers, and establish clearer rules for international commerce. The negotiations resulted in agreements that expanded trade in goods and services, protected intellectual property rights, and laid the foundation for the World Trade Organization (WTO). Essentially, it was a comprehensive effort to make international trade smoother, fairer, and more predictable for countries around the world.