Treaty

General Agreement on Tariffs and Trade

30 Oct 1947 · 46.20° N, 6.15° E

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When
30 Oct 1947
Kind
Treaty
Coordinates
46.20° N, 6.15° E
Description
multilateral agreement regulating international trade

General Agreement on Tariffs and Trade

1947–1995 multilateral trade agreement

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".

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