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IM Asgnmnt

The document discusses the General Agreement on Tariffs and Trade (GATT), which provided global trade rules and dispute resolution from 1948 to 1994. GATT was one of three Bretton Woods organizations established after World War II, along with the IMF and World Bank. GATT's goal was to liberalize world trade by reducing tariffs. The first GATT negotiations impacted one-fifth of world trade among 23 member nations. The final Uruguay Round from 1986-1994 led to the World Trade Organization and new trade agreements.

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12 views

IM Asgnmnt

The document discusses the General Agreement on Tariffs and Trade (GATT), which provided global trade rules and dispute resolution from 1948 to 1994. GATT was one of three Bretton Woods organizations established after World War II, along with the IMF and World Bank. GATT's goal was to liberalize world trade by reducing tariffs. The first GATT negotiations impacted one-fifth of world trade among 23 member nations. The final Uruguay Round from 1986-1994 led to the World Trade Organization and new trade agreements.

Uploaded by

rohit5586
Copyright
© Attribution Non-Commercial (BY-NC)
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Download as DOCX, PDF, TXT or read online on Scribd
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The General Agreement on Tariffs and Trade (GATT) provided global trade rules as well as a framework
for trade disputes from 1948 to 1994. It was one of three Bretton Woods organizations developed after
World War II. (The others were the International Monetary Fund and the World Bank.)

The goal of GATT founders was to liberalize world trade, specifically by reducing protective tariffs.

The first round of negotiations impacted one fifth of world trade; there were 23 founding members. The
eighth and last round -- the Uruguay Round of 1986-94 -- led to the creation of the World Trade
Organization (WTO) and a new set of trade agreements.

Corporations often argue for more open trade in order to have access to new markets. Labor often
argues for trade restrictions in order to protect domestic jobs. Because trade agreements must be
approved by governments, this tension sets up political conflict.

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