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Related to GATT: WTO

General Agreement on Tariffs and Trade (GATT)

A treaty adopted by the United Nations aimed at elimination of international trade barriers between member countries.

General Agreement on Tariffs and Trade

An international treaty, originally written in 1947, intending to establish a framework for international trade, with the goal of the reduction and elimination of tariffs. Its provisions were amended a number of times since its promulgation, but its goals remained the same until 1995, when it was replaced by the World Trade Organization. See also: Doha round.


General Agreement on Tariffs and Trade (GATT).

A General Agreement on Tariffs and Trade was signed in 1947 to provide an international forum to encourage free trade, reduce tariffs, and provide a mechanism for resolving trade disputes.

The Uruguay Round Agreements Act was ratified by Congress in 1994 to foster trade by cutting international tariffs, standardizing copyright and patent protection, and liberalizing trade legislation.




References in periodicals archive ?
Many consecutive general or multilateral agreements signed by GATT members necessitated a simple and clear solution through interpretative note to annex A-1 of Morocco Agreement 1994 (Founding Document of the World Trade Organization).
Moreover, the GATT affirms that nothing in it "shall preclude the use by a contracting party of exchange controls or exchange restrictions in accordance with the Articles of Agreement of the International Monetary Fund".
In each instance where a GATT exception defense was put forth, the Panel found that China could not meet the burden of proving its applicability.
Maruyama reviews the legal foundation for PTAs and the history of GATT oversight, and laments the proliferation of what he terms "low quality" PTAs.
Similarly, under GATT, voting occurred for much the same reasons.
Declaration of GATT Ministerial session invites contracting parties to grant new voluntary contributions to ITC or provide other forms of assistance to it.
The success of GATT as a dynamic institution that has fostered dramatic increases in worldwide trade lies in its founding principles of reciprocity and nondiscrimination.
Although GATT believes that the expectations reflected in such forward-looking statements are reasonable; no assurance can be given that the expectations will prove to be correct.
Instead, a "temporary" and considerably more modest instrument -- the GATT -- was relied upon to negotiate multilateral reductions in tariffs.
One environment that we examine is the Tokyo Round of GATT negotiations, and in particular the decision by the United States to exclude certain industries from the across-the-board tariff cuts negotiated in that round.
The North American Free Trade Agreement (NAFTA) is a trilateral trade agreement between Canada, the United States and Mexico concluded under the authority of Article XXIV of the GATT (concept #3 above).
8) Furthermore, they argue that the most troubling aspect of the Uruguay Round and the WTO is that the new legalism of the WTO(9) will diminish the effectiveness of United States environmental legislation(10) by allowing the WTO the final say over what domestic legislation is or is not GATT legal.