General Agreement on Tariffs and Trade - meaning and definition. What is General Agreement on Tariffs and Trade
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What (who) is General Agreement on Tariffs and Trade - definition

MULTILATERAL AGREEMENT REGULATING INTERNATIONAL TRADE
General agreement on tariffs and trade; General Agreement on Trade and Tariffs; GATT; Tokyo round of GATT; Kennedy round of GATT; Gatt Treaty; General Agreement on Tariffs and Trade (GATT); General Agreement On Tariffs and Trade; General Agreement on Tariffs & Trade; GATT 24; GATT24

General Agreement on Tariffs and Trade         
The GATT is a binding contract among over 100 governments. GATT was established in 1947 as an interim measure pending the establishment of the International Trade Organization, under the Havana Charter. The International Trade Organization (ITO) was never ratified by Congress. Operating in the absence of an explicit international organization, GATT has provided the legal framework for international trade with its primary mission being the reduction of trade barriers. Headquarters offices are in Geneva, Switzerland. See: Rounds Standards
Trade agreement         
  • Types of trading arrangements (arranged by intensity of economic integration)
WIDE RANGING TAXES, TARIFF AND TRADE TREATY
Reciprocal trade agreement; Regional trade agreement; International Trade Agreement; Trade treaty; Regional Trade Agreement; Bilateral trade agreement; Trade agreements; Bilateral Trade Agreement; Trade pact; Trade deal; International trade agreement; Trade agreement on goods
A trade agreement (also known as trade pact) is a wide-ranging taxes, tariff and trade treaty that often includes investment guarantees. It exists when two or more countries agree on terms that help them trade with each other.
Agreement on Internal Trade         
Canadian agreement on internal trade; Canadian Agreement on Internal Trade
The Agreement on Internal Trade (AIT) entered into force on July 1, 1995, and includes government departments, agencies, commissions and Crown corporations of the 10 Canadian provinces, the three territories and the federal government.

Wikipedia

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.

Examples of use of General Agreement on Tariffs and Trade
1. The talks dominated Dunkels final years as director–general of Gatt, the General Agreement on Tariffs and Trade.
2. Russia first sought entry to what was then still the General Agreement on Tariffs and Trade in 1''4.
3. The conferees met to negotiate tariff reductions and finalize the text of a General Agreement on Tariffs and Trade, or GATT.
4. Not since the General Agreement on Tariffs and Trade was established in 1'47 has a multilateral round such as Doha collapsed.
5. The U.S. request challenged numerous apparent violations of Mexico‘s obligations under the Agreement on Implementation of Article VI of the General Agreement on Tariffs and Trade 1''4 (Antidumping Agreement), the Agreement on Subsidies and Countervailing Measures (SCM Agreement), and the General Agreement on Tariffs and Trade 1''4 (GATT 1''4). These violations related to various procedures and methodologies Mexican authorities used in the rice investigation, as well as to the requirements of the Mexican legislation.