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

    Also found in: Legal, Encyclopedia, Wikipedia, Hutchinson 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.
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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.
Threats to quit WTO 'somewhat empty': Ricupero's reflections on world ... by UN Chronicle
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