ZALIS GLOSSARY: general-agreement-on-tariffs-and-trade-gatt


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General Agreement on Tariffs and Trade - GATT

Description of General Agreement on Tariffs and Trade - GATT
An agreement signed in 1947, whose purpose was to promote global trade between members through a reduction in tariffs.

Notes:
The formation of GATT--and its subsequent amendments up to 1994--laid the framework for the creation of the WTO in 1995.