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general agreement on tariffs and trade

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General Agreement on Tariffs and Trade

 
Use general agreement on tariffs and trade in a Sentence
–noun
an international organization formed in 1948 to establish common rules governing tariffs and to eliminate restrictive trade practices. Abbreviation: GATT
Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2009.
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Financial Dictionary

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.

Investopedia Commentary

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

Related Links

What Is The World Trade Organization?

See also: Tariff, Trade, World Trade Organization - WTO

Also spelled: GATT

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