After World War II, the United States and other nations aimed to promote freer trade among themselves. What was the first significant postwar initiative to encourage trade liberalization?

Explanation

The General Agreement on Tariffs and Trade (GATT) was the initial major effort after World War II to reduce trade barriers and promote international commerce. The World Trade Organization (WTO) was established later to succeed GATT. The Smoot-Hawley Tariff Act was a pre-war U.S. law that raised tariffs, and the McKinley Agreement is unrelated to postwar trade liberalization.