The General Agreement on Tariffs and Trade (GATT) was a multilateral agreement signed in 1947 that aimed to reduce international trade barriers like tariffs and establish common rules for trade between member nations. It served as an interim arrangement until the World Trade Organization (WTO) was established in 1995. While initially intended to be temporary, GATT endured and facilitated several rounds of negotiations that progressively reduced trade barriers over nearly 50 years through pragmatic leadership and incremental negotiations.