The General Agreement on Tariffs and Trade, also known as GATT, is an international agreement that was established in 1947 to promote international trade by reducing barriers and tariffs on goods and services.

The GATT was created after World War II as a means of rebuilding economies and promoting global economic growth. It was signed by 23 countries and came into effect in 1948. Since then, it has been amended several times, most notably in 1994 with the creation of the World Trade Organization (WTO).

One of the significant accomplishments of the GATT was the reduction of tariffs on imported goods. Tariffs are taxes placed on goods imported from other countries, and they can make products more expensive for consumers. By reducing tariffs, the GATT aimed to increase competition and lower prices for consumers.

The 1947 General Agreement on Tariffs and Trade pdf is the original document that outlines the agreement`s goals, principles, and rules. It is a crucial document for understanding the history and evolution of international trade.

The GATT`s main principles are non-discrimination, transparency, predictability, and promoting fair competition. These principles aim to create a level playing field for all countries, regardless of their economic size or political power.

The GATT has been successful in promoting global trade, which has led to increased economic growth and development. However, critics argue that it has also led to the exploitation of developing countries, as wealthier nations have been able to dominate global trade and set the rules in their favor.

Despite these criticisms, the GATT has been a vital agreement for promoting international trade. It paved the way for the WTO and continues to influence global trade policies today. The 1947 General Agreement on Tariffs and Trade pdf remains a crucial document for understanding the agreement`s origins and goals.