General Agreement on Tariffs and Trade information
1947–95 multilateral trade agreement; predecessor to WTO
"GATT" redirects here. For other uses, see GATT (disambiguation).
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General Agreement on Tariffs and Trade
Type
Multilateral treaty
Signed
30 October 1947 (1947-10-30)[1]
Location
Geneva, Geneva Canton, Switzerland
Condition
ratification by territories representing 85% of trade of signatories
Provisional application
1 January 1948[1]
Depositary
Executive Secretary to the Contracting Parties
Languages
English and French
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[2] in Geneva on 30 October 1947, and was applied on a provisional basis 1 January 1948.[1] 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.[3][4] 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.[5]
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.[6] Experts attribute part of these tariff changes to GATT and the WTO.[7][8][9]
^ abc"General Agreement on Tariffs and Trade. Treaty data". Government of the Netherlands. Archived from the original on 2 March 2022. Retrieved 30 December 2020.
^Unger, Michael (7 December 2017). "GATT rounds: Who, what, when". Hinrich Foundation. Archived from the original on 5 August 2022. Retrieved 4 August 2022.
^"WTO legal texts: The Uruguay Round agreements". World Trade Organization. Archived from the original on 14 December 2005. Retrieved 22 December 2009.
^"Uruguay Round – General Agreement on Tariffs and Trade 1994". World Trade Organization. Archived from the original on 26 June 2018. Retrieved 22 December 2009.
^"Acc Protocols of accession for new members since 1995, including commitments in goods and services". World Trade Organization. Archived from the original on 21 July 2022. Retrieved 5 September 2019.
^Cite error: The named reference :0 was invoked but never defined (see the help page).
^Tomz, Michael; Goldstein, Judith L; Rivers, Douglas (May 2007). "Do We Really Know That the WTO Increases Trade? Comment". American Economic Review. 97 (5). Nashville, Tennessee: American Economic Association: 2005–2018. doi:10.1257/aer.97.5.2005. ISSN 0002-8282.
^Goldstein, Judith L.; Rivers, Douglas; Tomz, Michael (January 2007). "Institutions in International Relations: Understanding the Effects of the GATT and the WTO on World Trade". International Organization. 61 (1). Cambridge, England: Cambridge University Press: 37–67. doi:10.1017/S0020818307070014. ISSN 1531-5088.
^Irwin, Douglas A. (9 April 2007). "GATT Turns 60". The Wall Street Journal. ISSN 0099-9660. Archived from the original on 6 November 2018. Retrieved 28 October 2017.
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