The General Agreement on Tariffs and Trade (GATT) was a multilateral treaty established in 1947 to promote international trade by reducing trade barriers such as tariffs and quotas. It aimed to create a fair trading environment and was crucial in shaping the rules of international commerce, laying the groundwork for future trade agreements and organizations, particularly the World Trade Organization (WTO). GATT played a significant role in fostering economic cooperation among nations after World War II and addressing trade issues that arose from protectionist policies.
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