Gatt (Generalized Agreement On Tariffs and Trade) 3
Gatt (Generalized Agreement On Tariffs and Trade) 3 : A multilateral treaty designed to help reduce trade barriers between signatory countries and to promote trade through tariff elimination and concessions. The GATT is a binding contract among (in early 1992) 103 governments. GATT was established in 1947 as an interim measure pending the establishment of the International Trade Organization, under the Havana Charter. The International Trade Organization (ITO) was never ratified by Congress. Operating in the absence of an explicit international organization, GATT has provided the legal framework for international trade with its primary mission being the reduction of trade barriers
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