What Does URAA Stand For?

URAA stands for Uruguay Round Agreements Act Of 1994

The Uruguay Round Agreements Act of 1994 (URAA) is a significant piece of legislation in the United States that implements the outcomes of the Uruguay Round of trade negotiations held from 1986 to 1994. This act aimed to bolster the global trading system by establishing new trade agreements, reducing tariffs, and addressing trade barriers. It formalized the U.S. commitment to the World Trade Organization (WTO) and included provisions related to intellectual property, services, agriculture, and textiles, promoting a more open and equitable global market. The URAA represents a crucial step in the evolution of international trade policy, shaping U.S. trade relations and economic strategy.