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General Agreement on Tariffs and Trade |
Also found in: Dictionary/thesaurus, Legal, Acronyms, Encyclopedia, Wikipedia, Hutchinson | 0.04 sec. |
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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 (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. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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He later insisted that freer trade be a key element of postwar planning, which led to the creation of the General Agreement on Tariffs and Trade. Prior to WTO, the General Agreement on Tariffs and Trade (GATT) settled trade disputes. The 1993 NAFTA Treaty states: "The Parties affirm their existing rights and obligations with respect to each other under the General Agreement on Tariffs and Trade and other agreements to which such Parties are party. |
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