universalism. 1  universal character; universality. 2  a universal range of knowledge, interests, or activities. ( 3 initial capital letter) the doctrine that emphasizes the universal fatherhood of God and the final salvation of all souls. Compare apocatastasis (def 2).
The World Trade Organization, an institution that arbitrates trade disputes. Strategic Trade Policies Policies designed to get more of the benefits from trade in a country than would exist under free trade.
While Canada and the EC proposed the establishment of a multilateral trade organization, the US was opposed to it, concerned about preserving consensual decision-making and its domestic sovereignty. The US continued to hold out on agreeing to the establishment of a World Trade Organization until late 1993.