Community and Government
General Agreement on Tariffs and Trade: GATT Definition
Written by MasterClass
Last updated: Aug 31, 2022 • 3 min read
At the time of its signing in 1947, the General Agreement on Tariffs and Trade (GATT) became the first major international free trade agreement. Its signature policies of tariff reduction and quota elimination helped open up global trade from the end of World War II into the 1990s.