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| Topic: |
Business
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| Number of pages / Number of words: |
26 / 7155 |
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The Charter provided for the establishment of the ITO, and set out the basic rules for international trade and other international economic matters. The ITO Charter, however, never entered into force; while repeatedly submitted to the US Congress, it was never approved. The most usual argument against the new organization was that it would be involved in internal economic issues...
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The most usual argument against the new organization was that it would be involved in internal economic issues.[8] On December 6, 1950 President Truman announced that he would no longer seek Congressional approval of the ITO Charter.[9] In the absence of an international organization for trade, the GATT would over the years "transform itself" into a de facto international organization...
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