The General Agreement on Tariffs and Trade (GATT) is a legal agreement between many countries, whose overall purpose was to promote international trade by reducing or eliminating trade barriers such as tariffs or quotas.

Recognizing that their relations in the field of trade and economic endeavour should be conducted with a view to raising standards of living, ensuring full employment and a large and steadily growing volume of real income and effective demand, developing the full use of the resources of the world and expanding the production and exchange of goods,

GATT was an agreement with economic objectives; the key negotiators were primarily economists and their ultimate agreement reflected the assumptions of the time about the economic...

Feb 24, 2025 · The General Agreement on Tariffs and Trade (GATT), signed in 1947 by 23 countries, is a treaty minimizing barriers to international trade by eliminating or reducing quotas, tariffs,...

Apr 1, 2025 · General Agreement on Tariffs and Trade (GATT), set of multilateral trade agreements aimed at the abolition of quotas and the reduction of tariff duties among the contracting nations.

Dec 28, 2023 · GATT was established in 1947 as a temporary framework to promote trade liberalization and reduce tariff barriers among signatory nations. While GATT achieved considerable success in fostering international cooperation and expanding trade, its limitations became evident over time.

Feb 10, 2025 · The General Agreement on tariffs and trade (GATT) played a pivotal role in shaping international trade by reducing barriers and promoting economic recovery after World War II. this article delves into the history, purpose, achievements, and eventual transformation of the GATT into the World Trade Organization (WTO). explore how GATT’s ...

The GATT aimed “substantial reduction of tariffs and other trade barriers and the elimination of preferences, on a reciprocal and mutually advantageous basis”, so that the economic recovery after World War II can be boosted. Although the GATT is …

Nov 5, 2024 · The General Agreement on Tariffs and Trade (GATT) traces its origins to the 1944 Bretton Woods Conference, which laid the foundations for the post-World War II financial system and established two key institutions, the International Monetary Fund and the World Bank.

Feb 24, 2022 · The General Agreement on Tariffs and Trade (GATT), which was signed on October 30, 1947, by 23 nations, was a legal agreement that aimed to reduce trade barriers by abolishing or decreasing quotas, tariffs, and subsidies while retaining considerable restrictions.