Quick Definition

The General Agreement on Tariffs and Trade (GATT) was a multilateral agreement regulating international trade, aimed at reducing tariffs and other trade barriers.

Examples

• 1A country reducing tariffs on imported textiles as per GATT agreements to promote trade.
• 2Negotiations under GATT leading to a significant decrease in agricultural subsidies, benefiting global food markets.
• 3GATT's role in the establishment of the World Trade Organization (WTO) to further regulate international trade.
• 4Implementation of GATT rules leading to increased market access for electronics, boosting global technology trade.

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