What is the primary role of the World Trade Organization (WTO)?

The primary role of the World Trade Organization (WTO) is to mediate trade disputes between nations. This function is essential in ensuring that international trade flows smoothly and predictably. The WTO provides a framework for negotiating trade agreements and serves as a platform where member countries can resolve their trade disagreements peacefully. By facilitating discussions and offering mechanisms for dispute resolution, the WTO helps maintain stable trade relations, which is vital for promoting global economic cooperation and growth.

While the other roles mentioned may be associated with various international organizations or systems, they do not accurately represent the core function of the WTO. For example, standardizing financial regulations pertains more to financial institutions and regulatory bodies rather than the WTO's objectives. Similarly, the promotion of national currencies is typically managed by central banks and international monetary organizations, not the WTO. Imposing tariffs on imports is a national policy decision and not a direct function of the WTO, which focuses instead on imposing rules that discourage the arbitrary use of tariffs.