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General Agreement on Tariffs and Trade (GATT)

Multilateral international treaty first created in 1947 and frequently amended (most recently in 1994) to which 125 countries subscribe.

Multilateral international treaty first created in 1947 and frequently amended (most recently in 1994, called the "Uruguay Round") to which 151 countries now subscribe.

GATT provides for fair trade rules and the gradual reduction of tariffs, duties and other trade barriers, for goods, services and intellectual property.

The 1994 amendment created a World Trade Organization (WTO), which oversees the implementation of the GATT.

 

References and further research:

► WTO at wto.org

► The General Agreement on Tariffs and Trade (GATT 1947) at wto.org/english/docs_e/legal_e/gatt47_01_e.htm

► Final Act embodying the results of the Uruguay Round of Multilateral Trade Negotiations at wto.org/english/docs_e/legal_e/03-fa_e.htm

► Marrakesh Agreement Establishing the World Trade Organization at wto.org/english/docs_e/legal_e/04-wto_e.htm

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Unless otherwise noted, this article was written by Lloyd Duhaime, Barrister, Solicitor, Attorney and Lawyer (and Notary Public!). It is not intended to be legal advice and you would be foolhardy to rely on it in respect to any specific situation you or an acquaintance may be facing. In addition, the law changes rapidly and sometimes with little notice so from time to time, an article may not be up to date. Therefore, this is merely legal information designed to educate the reader. If you have a real situation, this information will serve as a good springboard to get legal advice from a lawyer.

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