General Agreement on Tariffs and Trade


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Related to General Agreement on Tariffs and Trade: International Monetary Fund, World Trade Organization

General Agreement on Tariffs and Trade

The General Agreement on Tariffs and Trade (GATT) originated with a meeting of 22 nations meeting in 1947 in Geneva, Switzerland. By 2000, there were 142 member nations, with another 30 countries seeking admission. The detailed commitments by each country to limit tariffs on particular items by the amount negotiated and specified in its tariff schedule is the central core of the GATT system of international obligation.

The obligations relating to the tariff schedules are contained in Article II of GATT. For each commodity listed on the schedule of a country, that country agrees to charge a tariff that will not exceed an amount specified in the schedule. It can, if it wishes, charge a lower tariff.

The World Trade Organization (WTO) heavily influences the workings of the GATT treaties through the efforts of various committees. Representatives of member countries of the WTO comprise the Council for the Trade in Goods (Goods Council), which oversees the work of 11 committees responsible for overseeing the various sectors of GATT. The committees focus on such issues as agriculture, sanitary measures, subsidies, customs valuation, and rules of origin.

Further readings

Bagwell, Kyle. 2002. The Economics of the World Trading System. Cambridge, Mass.: MIT Press.

Cross-references

Commodity; Tariff.

General Agreement on Tariffs and Trade

abbreviation for GATT.
References in periodicals archive ?
(21) Agreement Establishing the World Trade Organization, Annex 1A, General Agreement on Tariffs and Trade 1994, [paragraph] 1(b)(iv); see Appellate Body Report, European Communities--Conditions for the Granting of Tariff Preferences to Developing Countries, [paragraph] 90.3, WT/DS246/AB/R (Apr.
The minimum-access deal was struck in 1993 under the Uruguay Round of the General Agreement on Tariffs and Trade, the predecessor to the WTO.
position in the General Agreement on Tariffs and Trade (GATT) negotiations affecting American manufacturing jobs.
Consider, for example, the proposed Global Trade Organization (GTO), which was intended to be the enforcement body of the General Agreement on Tariffs and Trade (GATT).
Many Web surfers, searching for information about the General Agreement on Tariffs and Trade, have instead stumbled on the parody site, with its sardonic satires of the trade group's worldview.
The Uruguay Round was the last of a series of periodic trade negotiations held under the auspices of the WTO's predecessor, the General Agreement on Tariffs and Trade (GATT).
The report confirms and refines earlier findings by a WTO panel that the Auto Pact is in breach of several key provisions of the General Agreement on Tariffs and Trade (GATT), the WTO's predecessor, and the WTO Agreement on Subsidies.
The Uruguay Round of the General Agreement on Tariffs and Trade, the WTO's predecessor, obliged Japan to import 4% of its rice consumption in fiscal 1995 and to gradually increase the share over a six-year period until it reaches 8% in fiscal 2000.
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