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General Agreement On Tariffs And Trade (GATT)

Definition

General Agreement on Tariffs and Trade was 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. According to its preamble, its purpose was the "substantial reduction of tariffs and other trade barriers and the elimination of preferences, on a reciprocal and mutually advantageous basis."

What was the 'General Agreement On Tariffs And Trade - GATT'

The General Agreement on Tariffs and Trade (GATT) was formed soon after World War II ended. The GATT was a trade treaty implemented to boost economic recovery. The primary purpose of GATT was to increase international trade through by eliminating or reducing various tariffs, quotas and subsidies while maintaining meaningful regulations.

Explaining 'General Agreement On Tariffs And Trade - GATT'

GATT became law on Jan. 1, 1948, once it was signed by 23 countries. GATT was refined over decades and eventually led to the 123 countries creating the World Trade Organization (WTO) on Jan. 1, 1995.

General Agreement on Tariffs and Trade Rounds

The GATT held eight rounds in total from April 1947 to September 1986, each with its own significant achievements and outcomes. The first round occurred in Geneva, Switzerland, and it included 23 countries. The main subject covered during this round was tariffs. This original round led to the formation of GATT and established tens of thousands of tax concessions affecting over $10 billion in trade. In April 1949, the second round of GATT occurred, in Annecy, France. Tariffs again were the main subject, and 13 countries were involved. During this round, 5,000 more tax concessions were exchanged between countries.


Further Reading


Enforcement of the General Agreement on Tariffs and Trade
heinonline.org [PDF]
… PARTIES, or the Council, would take action only if all parties agree; any individual … 1980) [hereinafter Subsidies Code]; Agreement on Implementation of Article VI of the General Agreement on Tariffs … of rulings made in the decided cases together with his general comments on …

Market reaction of Multinational corporations to the Passage of the General Agreement on Tariffs and Trade (GATT)Market reaction of Multinational corporations to the Passage of the General Agreement on Tariffs and Trade (GATT)
www.sciencedirect.com [PDF]
… PARTIES, or the Council, would take action only if all parties agree; any individual … 1980) [hereinafter Subsidies Code]; Agreement on Implementation of Article VI of the General Agreement on Tariffs … of rulings made in the decided cases together with his general comments on …

Enforcement, private political pressure, and the General Agreement on Tariffs and Trade/World Trade Organization escape clauseEnforcement, private political pressure, and the General Agreement on Tariffs and Trade/World Trade Organization escape clause
www.journals.uchicago.edu [PDF]
… PARTIES, or the Council, would take action only if all parties agree; any individual … 1980) [hereinafter Subsidies Code]; Agreement on Implementation of Article VI of the General Agreement on Tariffs … of rulings made in the decided cases together with his general comments on …

China and the GATT: legal and policy issues raised by China's participation in the General Agreement on Tariffs and TradeChina and the GATT: legal and policy issues raised by China's participation in the General Agreement on Tariffs and Trade
heinonline.org [PDF]
… PARTIES, or the Council, would take action only if all parties agree; any individual … 1980) [hereinafter Subsidies Code]; Agreement on Implementation of Article VI of the General Agreement on Tariffs … of rulings made in the decided cases together with his general comments on …

International trade and the environment: an environmental assessment of the General Agreement on Tariffs and Trade.International trade and the environment: an environmental assessment of the General Agreement on Tariffs and Trade.
www.cabdirect.org [PDF]
… PARTIES, or the Council, would take action only if all parties agree; any individual … 1980) [hereinafter Subsidies Code]; Agreement on Implementation of Article VI of the General Agreement on Tariffs … of rulings made in the decided cases together with his general comments on …

GATT or GABB? The future design of the general agreement on tariffs and tradeGATT or GABB? The future design of the general agreement on tariffs and trade
www.jstor.org [PDF]
… PARTIES, or the Council, would take action only if all parties agree; any individual … 1980) [hereinafter Subsidies Code]; Agreement on Implementation of Article VI of the General Agreement on Tariffs … of rulings made in the decided cases together with his general comments on …

Multilateral commercial diplomacy; the General Agreement on Tariffs and Trade and its impact on national commercial policies and techniques.Multilateral commercial diplomacy; the General Agreement on Tariffs and Trade and its impact on national commercial policies and techniques.
www.cabdirect.org [PDF]
… PARTIES, or the Council, would take action only if all parties agree; any individual … 1980) [hereinafter Subsidies Code]; Agreement on Implementation of Article VI of the General Agreement on Tariffs … of rulings made in the decided cases together with his general comments on …

The General Agreement on Tariffs and Trade in United States Domestic LawThe General Agreement on Tariffs and Trade in United States Domestic Law
www.jstor.org [PDF]
… PARTIES, or the Council, would take action only if all parties agree; any individual … 1980) [hereinafter Subsidies Code]; Agreement on Implementation of Article VI of the General Agreement on Tariffs … of rulings made in the decided cases together with his general comments on …

The GATT–EEC Collision: The Challenge of Regional Trade Blocs to the General Agreement on Tariffs and Trade, 1950–67The GATT–EEC Collision: The Challenge of Regional Trade Blocs to the General Agreement on Tariffs and Trade, 1950–67
www.tandfonline.com [PDF]
… PARTIES, or the Council, would take action only if all parties agree; any individual … 1980) [hereinafter Subsidies Code]; Agreement on Implementation of Article VI of the General Agreement on Tariffs … of rulings made in the decided cases together with his general comments on …


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