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General Agreement on Tariffs and Trade

   Also found in: Legal, Financial, Acronyms, Encyclopedia, Wikipedia, Hutchinson 0.06 sec.
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Noun1.General Agreement on Tariffs and Trade - a United Nations agency created by a multinational treaty to promote trade by the reduction of tariffs and import quotas
UN agency, United Nations agency - an agency of the United Nations


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He later insisted that freer trade be a key element of postwar planning, which led to the creation of the General Agreement on Tariffs and Trade.
Prior to WTO, the General Agreement on Tariffs and Trade (GATT) settled trade disputes.
The 1993 NAFTA Treaty states: "The Parties affirm their existing rights and obligations with respect to each other under the General Agreement on Tariffs and Trade and other agreements to which such Parties are party.
 
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