General Agreement On Tariffs And Trade - GATT
Definition of 'General Agreement On Tariffs And Trade - GATT'
GATT was formed in 1947 and signed into international law on January 1, 1948. GATT was one of the main features of international trade agreements until it was replaced by the creation of the World Trade Organization (WTO) on January 1, 1995. The foundation for GATT was laid by the proposal of the International Trade Organization in 1945, however the ITO was never completed.
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