Definitions for general agreement on tariffs and trade
gen·er·al agree·men·t on tar·iff·s and trade

Princeton's WordNetRate this definition:0.0 / 0 votes

1. General Agreement on Tariffs and Trade, GATTnoun

   a United Nations agency created by a multinational treaty to promote trade by the reduction of tariffs and import quotas

WikipediaRate this definition:0.0 / 0 votes

1. General Agreement on Tariffs and Trade

   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." The GATT was first discussed during the United Nations Conference on Trade and Employment and was the outcome of the failure of negotiating governments to create the International Trade Organization (ITO). It was signed by 23 nations in Geneva on 30 October 1947, and was applied on a provisional basis 1 January 1948. It remained in effect until 1 January 1995, when the World Trade Organization (WTO) was established after agreement by 123 nations in Marrakesh on 15 April 1994, as part of the Uruguay Round Agreements. The WTO is the successor to the GATT, and the original GATT text (GATT 1947) is still in effect under the WTO framework, subject to the modifications of GATT 1994. Nations that were not party in 1995 to the GATT need to meet the minimum conditions spelled out in specific documents before they can accede; in September 2019, the list contained 36 nations.The GATT, and its successor the WTO, have succeeded in reducing tariffs. The average tariff levels for the major GATT participants were about 22% in 1947, but were 5% after the Uruguay Round in 1999. Experts attribute part of these tariff changes to GATT and the WTO.

ChatGPTRate this definition:0.0 / 0 votes

1. general agreement on tariffs and trade

   The General Agreement on Tariffs and Trade (GATT) is a treaty created following World War II that is intended to promote global economic growth through the reduction of tariffs and other international trade barriers. It provides a legal framework for international trade, setting out rules for fair competition and guiding trade negotiations among member countries. GATT was replaced by the World Trade Organization (WTO) in 1995, but its principles and many of its provisions continue to form the core of the WTO's legal texts.

WikidataRate this definition:0.0 / 0 votes

1. General Agreement on Tariffs and Trade

   The General Agreement on Tariffs and Trade was a multilateral agreement regulating international trade. 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." It was negotiated during the United Nations Conference on Trade and Employment and was the outcome of the failure of negotiating governments to create the International Trade Organization. GATT was signed in 1947 and lasted until 1994, when it was replaced by the World Trade Organization in 1995. The original GATT text is still in effect under the WTO framework, subject to the modifications of GATT 1994.

Matched Categories

1. • United Nations Agency

How to pronounce general agreement on tariffs and trade?

1. Alex

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How to say general agreement on tariffs and trade in sign language?

Numerology

1. Chaldean Numerology

   The numerical value of general agreement on tariffs and trade in Chaldean Numerology is: 6

2. Pythagorean Numerology

   The numerical value of general agreement on tariffs and trade in Pythagorean Numerology is: 1

References

1. ^ Princeton's WordNet
   http://wordnetweb.princeton.edu/perl/webwn?s=general agreement on tariffs and trade
2. ^ Wikipedia
   https://en.wikipedia.org/wiki/General_Agreement_on_Tariffs_and_Trade
3. ^ ChatGPT
   https://chat.openai.com
4. ^ Wikidata
   https://www.wikidata.org/w/index.php?search=general agreement on tariffs and trade