General Agreement on Tariffs and Trade
/ˈdʒɛnərəl əˈɡriːmənt ɒn ˈtærɪfs ænd treɪd/
Definitions
- (n.) An international treaty established in 1947 to promote international trade by reducing tariffs and other trade barriers, later succeeded by the World Trade Organization (WTO).
The General Agreement on Tariffs and Trade laid the foundation for modern global commerce rules.
Forms
- general agreement on tariffs and trade
Related terms
See also
Commentary
Often abbreviated GATT, referenced in trade law for its role in shaping multilateral trade negotiations and tariff reduction mechanisms.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.