The agreement was intended as a short-term tactic to preserve industry in the EU and US. It is also known as the multi-fiber agreement. The multi-fiber arrangement was active between 1974 and 2004. It was then deemed to be against World Trade Organization (WTO) regulations. For this reason, the MFA was canceled as of January 1, 2005. Since then, developed nations have attempted to find other ways to replicate or at least approximate the effect of the multi-fiber arrangement.