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.

Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.

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.

General Agreement on Tariffs and Trade (GATT)

see WORLD TRADE ORGANIZATION.

General Agreement on Tariffs and Trade (GATT)

see WORLD TRADE ORGANIZATION.

Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005

References in periodicals archive

The cause of free trade, for the foreseeable future at least, rests entirely on the fate of trade negotiations: the Uruguay Round of the General Agreement on Tariffs and Trade talks and, of course, NAFTA.

Protectionist racket

Gardner's second recommendation was to "rewrite the ground rules for the conduct of international trade," including "seeking new rules in the General Agreement on Tariffs and Trade to cover a whole range of hitherto unregulated nontariff barriers." These new trade regulations, Gardner effused, "will subject countries to an unprecedented degree of international surveillance over up to now sacrosanct 'domestic' policies."

New world order strategist: thirty years ago Richard N. Gardner proposed a "piecemeal" approach to world government. The internationalist insiders have followed his blueprint ever since

corporate controllers were split on the question of whether the General Agreement on Tariffs and Trade (GATT) and the North American Free Trade Agreement (NAFTA) would have an impact on their businesses in the next year, according to a survey conducted by the Institute of Management Accountants.

Companies unsure of GATT, NAFTA impact on U.S. business

The first three institutions Gardner pointed to for this purpose were the International Monetary Fund (IMF), the World Bank, and the General Agreement on Tariffs and Trade (GATT).

Trading away jobs and Liberty: though billed as a boon to the U.S., the General Agreement on Trade in Services will, in reality, wreak havoc on our economy, sovereignty, and way of life. (Cover Story: Business)

The European Union Council of Ministers formally approved the Uruguay Round of the General Agreement on Tariffs and Trade, which will bring about the most significant liberalization of world trade in history.

EU approves GATT agreement (European Union, General Agreement on Tariffs and Trade) (Brief Article)

They are the same code words used to describe what the same one-worlders have been doing worldwide through the General Agreement on Tariffs and Trade (GATT), which became, in 1995, the World Trade Organization (WTO).

Why the race to the bottom? Why does America's elite support policies that export jobs and technology, import foreign workers, erode national sovereignty, and destroy our standard of living? (Cover Story: Business)

Pending a study of the ITC rulings, the EC reserved the light to retain the General Agreement on Tariffs and Trade dispute-settlement panel that is investigating the matter.

ITC review defuses U.S.-EC antidumping dispute

At the European Community's request, the General Agreement on Tariffs and Trade (GATT) established a dispute-settlement panel to investigate the matter.

Antidumping duties on EC steel products draw criticism