What is the function of the World Trade Organization (WTO)?

The function of the World Trade Organization (WTO) is primarily to facilitate international trade agreements and resolve trade disputes among nations. Established in 1995, the WTO operates as a global forum where member countries negotiate trade agreements, aim to reduce trade barriers, and work towards creating a more integrated and transparent international trading system.

Through its various agreements, the WTO provides a structured process for countries to engage in trade negotiations and disputes, promoting stability and predictability in international trade. This includes mechanisms for resolving conflicts that arise between nations regarding trade rules, such as issues related to tariffs and import quotas.

The other options do not accurately reflect the WTO's core mission. Encouraging national policies over global agreements goes against the organization's purpose of fostering an interconnected trading system. Promoting tariffs is contrary to the WTO’s goal of reducing trade barriers, as it encourages free trade rather than protectionism. Additionally, limiting the importation of goods does not align with the WTO's objective of promoting trade liberalization.