
An Introduction to General Agreement on Trades and Tariffs (GATT)
Introduction General Agreement on Trades and Tariffs (GATT) was formed in 1947 as part of the Bretton Woods Agreement. GATT set up a series of negotiating rounds, which were primarily intended to reduce and gradually eliminate quotas, duties, and tariffs in respect of trade in goods. The basic objective of the GATT was to progressively