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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 ...
Many things impacted GATT like the Uruguay Round and the North American Free Trade Agreement. [13] In 1994 the World Trade Organization (WTO) was established to take the place of the GATT. This is because the GATT was meant to be a temporary fix to trade issues, and the founders hoped for something more concrete.
The Agreement on the Application of Sanitary and Phytosanitary Measures, also known as the SPS Agreement or just SPS, is an international treaty of the World Trade Organization (WTO). It was negotiated during the Uruguay Round of the General Agreement on Tariffs and Trade (GATT), and entered into force with the establishment of the WTO at the ...
In 1995 the World Trade Organization (WTO) replaced the GATT as the administrative body. A current round of multilateral trade negotiations was conducted in the Doha Development Agenda round. Prior to the ongoing Doha Development Round, eight GATT sessions took place: 1st Round: Geneva Round, 1947; 2nd Round: Annecy Round, 1949
The economists Harry Dexter White (left) and John Maynard Keynes (right) at the Bretton Woods Conference in New Hampshire [27]. The WTO precursor, General Agreement on Tariffs and Trade (GATT), was established by a multilateral treaty of 23 countries in 1947 after the end of World War II, in the wake of other new multilateral institutions dedicated to international economic cooperation—such ...
General Agreement on Tariffs and Trade [note 146] Establishes international trade rules. Paris Peace Treaties, 1947: Formally ends World War II in the European Theatre. Inter-American Treaty of Reciprocal Assistance [note 147] A "hemispheric defense" doctrine signed by many nations in the Americas.
The General Agreement on Tariffs and Trade, part of the World Trade Organization framework defines a customs union in the following way: [1] (a) A customs union shall be understood to mean the substitution of a single customs territory for two or more customs territories, so that
Within the WTO Agreements there are general exceptions (GATT Article XX) that can be used for the protection of specific human rights. [27] GATT Article XX paragraphs (a), (b) and (d) can be used to impose unilateral trade restrictive measures on countries [26] for unacceptable labour standards. However, the wording of the exceptions has ...