General Agreement on Tariffs and Trade

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General Agreement on Tariffs and Trade (GATT) United Nations agency of international trade, subsumed into the new World Trade Organization in 1995. Founded in 1948, GATT was designed to prevent ‘tariff wars’ (the retaliatory escalation of tariffs) and to work towards the reduction of tariff levels. Most non-communist states were party to GATT.

http://www.wto.org

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