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

General Agreement on Tariffs and Trade (GATT)

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

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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.

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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.