What events led to the general agreement on tariffs and trade? why did the world trade organization eventually replace gatt? a. the great depression and the sherman act; as world trade grew, a more formal organization was needed. b. the great depression and the sherman act; trade in services and in products incorporating intellectual property grew in importance. c. the great depression and the smoot-hawley tariff; as world trade grew, a more formal organization was needed. d. the great depression and the smoot-hawley tariff; trade in services and in products incorporating intellectual property grew in importance.

c. The Great Depression and the Smoot-Hawley Tariff led to the Generall Agreement on Tariffs and Trade. As world trade grew, a more formal organization was needed and the World Trade Organization eventually replaced GATT.

Explanation:

It is worthy saying that the GATT remains but it has been taken over by the World Trade Organization. Tariffs like Smoot-Hawley after World War II as well as the Great Depression were major events that created the need for a General Agreement on Tariffs and Trade. It was initially signed by a few countries and it kept growing, thus the need for a more formal World Trade Organization.

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