Business / Agriculture / General Agreement On Tariffs And Trade (GATT): An agreement originally negotiated in Geneva, Switzerland in 1947 to increase international trade by reducing tariffs and nontariff trade barriers. The agreement provides a code of conduct for international commerce and a framework for periodic multilateral negotiations on trade liberalization and expansion. The Uruguay Round Agreement (resulting from negotiations that stretched from 1986 through 1993 among over 100 nations) established the World Trade Organization (WTO) to replace the institutions created by the GATT. The WTO officially replaced the GATT institutions on January 1, 1995. The WTO administers the GATT 1947, the revisions in GATT resulting from the Uruguay Round negotiations (GATT 1994), dispute resolution among WTO member countries, and various agreements resulting from other previous multilateral trade negotiations.
Search Google for General Agreement On Tariffs And Trade (GATT):
Agreement Noun Synonyms: understanding, covenant, treaty, pact, accord, compact, settlement, concordat, contract, bargain, deal
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General Adjective Synonyms: mixed, assorted, miscellaneous, heterogeneous, encyclopedic or encyclopaedic, diversified, extended, broad, comprehensive, inclusive, all-inclusive, non-exclusive, overall, blanket, across the board, sweeping, panoramic, catholic, composite, combined
General Noun Synonyms: common, prevailing, accepted, popular, public, communal, community, widespread, shared, extensive, prevalent, universal, worldwide, global, comprehensive, inclusive, all-inclusive, non-exclusive, overall, unrestricted
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Trade Noun Synonyms: exchange, swap or swop, interchange, switch, barter, return
Trade Adjective Synonyms: commerce, business, traffic, exchange, barter, dealing(s), buying and selling, merchandising, marketing, mercantilism, truck
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Business / Agriculture / World Trade Organization (WTO): The international organization established by the Uruguay Round of multilateral trade negotiations to oversee implementation of the General Agreement on Tariffs and Trade and the agreements arising fr MORE
Business / Agriculture / Omnibus Trade And Competitiveness Act Of 1988: P.L. 100-418 (August 23, 1988) provided the President with negotiating authority for the General Agreement on Tariffs and Trade (GATT) Uruguay Round, U.S.-Canada Free Trade Agreement, and the North Am MORE
Business / Agriculture / Most-Favored-Nation Treatment (MFN): A commitment that a country will extend to another country the lowest tariff rates it applies to any third country. MFN is a basic principle of the General Agreement on Tariffs and Trade (GATT) (1947) MORE