<P> In the absence of an international organization for trade, countries turned, from the early 1950s, to the only existing multilateral international institution for trade, the "GATT 1947", to handle problems concerning their trade relations . Therefore, the GATT would over the years "transform itself" into a de facto international organization . It was contemplated that the GATT would be applied for several years until the ITO came into force . However, since the ITO was never brought into being, the GATT gradually became the focus for international governmental cooperation on trade matters . </P> <P> Seven rounds of negotiations occurred under GATT before the eighth round--the Uruguay Round--concluded in 1994 with the establishment of the World Trade Organization (WTO) as the GATT's replacement . The GATT principles and agreements were adopted by the WTO, which was charged with administering and extending them . </P>

The u.s. belongs to the international trade organization (ito)