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What Is GATT and What Happened to Tariff Rates as a Result

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What is GATT and what happened to tariff rates as a result of GATT?


Definitions:

Upgrade

An upgrade is a process of replacing a product with a newer version, or enhancing its features or efficiency, often to improve performance or to incorporate new technologies.

Oil Change

A maintenance service for vehicles that involves replacing the old motor oil and oil filter with new ones to ensure the engine runs smoothly.

Delivery Truck

A vehicle used for transporting goods and products from one location to another.

Expenditures

The outflow of funds paid or to be paid for an organization's operations and investments, including costs, expenses, and asset acquisitions.

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