Economics Trade Barriers Questions
The General Agreement on Tariffs and Trade (GATT) was an international treaty established in 1947 with the aim of promoting international trade by reducing trade barriers such as tariffs and quotas. It provided a framework for negotiations and dispute resolution among member countries, and aimed to create a more open and predictable trading system. GATT was replaced by the World Trade Organization (WTO) in 1995, but its principles and rules continue to influence global trade today.