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General Agreement on Tariffs and Trade
(redirected from General Agreement on Trade and Tariffs)

   Also found in: Dictionary/thesaurus, Legal, Encyclopedia, Wikipedia 0.01 sec.
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 1947 multilateral trade agreement designed to establish rules, reduce tariffs, and provide a setting for a solution to international trade problems. GATT agreements are of particular importance to industries and firms heavily involved in international trade. Changes or even discussion of changes in these agreements can have a significant effect on the prices of the securities of affected companies.

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.



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All of these trade groupings subject themselves to the General Agreement on Trade and Tariffs (GATT), with WTO oversight.
I personally believe that it is to some extent an empty threat, and I will explain why In reality, the rich industrialized countries need WTO as they had needed the General Agreement on Trade and Tariffs.
The good news is that the Retirement Protection Act, passed by Congress as part of the enactment legislation for the General Agreement on Trade and Tariffs, includes several provisions intended to make pension funds safer.
 
 
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