General Agreement on Tariff and Trade

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General Agreement on Tariff and Trade (GATT) is an international agreement instituted by the World Trade Organization. Originating in 1947[1], its aim is to increase world trade[2] by lowering tariffs, and banning prohibitions or restrictions on the export of commodities. These bans can be temporarily repealed in certain circumstances.[3]

References

  1. 'The General Agreement of Tariffs and Trade'
  2. World Trade Organization A Summary of the Final Act of the Uruguay Round; (n.d.)
  3. Blas, J. Tackle export bans to ease food crisis; Financial Times (February 3, 2011)
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