Photo Source: Internet By Naveed Qazi | Editor, Globe Upfront A n interesting debate rages in the global business arena. Tariffs and international policies on trade make up a huge chunk of economic decisions in our world. Today, many people criticise the trade liberalisation policies around the world. After the end of second world war, the Bretton Woods assemblage of international economic institutions paved the way for one of the most important events in history. International free trade alliances were given an advent for a purpose to stablise the global economy. During those times, there was a natural urge amidst several countries to escape protectionist policies pertaining to economies. During the years 1948 to 1994, GATT (General Agreements on Tariffs and Trade) saw high growth turnouts in international commerce, which was later constituted as the WTO in 1995. Uruguay Round from 1986 to 1994 was conducted seven times over the years which mainly focused on agricultural ...