The General Agreement on Tariffs and Trade (GATT) is a legal agreement between many countries, whose overall purpose was to promote international trade by reducing or eliminating trade barriers such as tariffs or quotas. According to its preamble, its purpose was the "substantial reduction of tariffs and other trade barriers and the elimination of preferences, on a reciprocal and mutually advantageous basis".
20th Century · 30th October
The General Agreement on Tariffs and Trade (GATT), the foundation of the World Trade Organization (WTO), is founded.
1947
Year of Event
79
Years Ago