The General Agreement on Tariffs and Trade (GATT) was a multilateral agreement regulating international trade signed in 1947. It aimed to reduce trade barriers through a series of rounds of negotiations. There were 9 rounds, the last being the Uruguay Round from 1986-1994 which established the World Trade Organization in 1995 to replace GATT. The rounds achieved major reductions in tariffs and other trade barriers.

1. General Agreement on Tariffs and Trade
From Wikipedia, the free encyclopedia
V · T · EGATT and WTO trade rounds[2]
Name Start Duration Countries
Subjects
covered
Achievements
Geneva
April
1947
7 months 23 Tariffs
Signing of
GATT, 45,000
tariff
concessions
affecting $10
billion of trade
Annecy
April
1949
5 months 13 Tariffs
Countries
exchanged
some 5,000
tariff
concessions
Torquay
September
1950
8 months 38 Tariffs
Countries
exchanged
some 8,700
tariff
concessions,
cutting the
1948 tariff
levels by 25%
Geneva
II
January
1956
5 months 26
Tariffs,
admission of
Japan
$2.5 billion in
tariff
reductions
Dillon
September
1960
11
months
26 Tariffs
Tariff
concessions
worth $4.9
billion of
world trade
Kennedy
May 1964
37
months
62
Tariffs,
Anti-
dumping
Tariff
concessions
worth $40
billion of
world trade
Tokyo
September
1973
74
months
102
Tariffs, non-
tariff
measures,
"framework"
agreements
Tariff
reductions
worth more
than $300
billion
achieved

2. Jump to: navigation, search
"GATT" redirects here. For other uses, see GATT (disambiguation).
The General Agreement on Tariffs and Trade (GATT) was a multilateral agreement
regulating international trade. According to its preamble, its purpose was the "substantial
reduction of tariffs and other trade barriers and the elimination of preferences, on a reciprocal
and mutually advantageous basis." It was negotiated during the United Nations Conference on
Uruguay
September
1986
87
months
123
Tariffs, non-
tariff
measures,
rules,
services,
intellectual
property,
dispute
settlement,
textiles,
agriculture,
creation of
WTO, etc.
The round led
to the creation
of WTO, and
extended the
range of trade
negotiations,
leading to
major
reductions in
tariffs (about
40%) and
agricultural
subsidies, an
agreement to
allow full
access for
textiles and
clothing from
developing
countries, and
an extension
of intellectual
property
rights.
Doha
November
2001
? 159
Tariffs, non-
tariff
measures,
agriculture,
labor
standards,
environment,
competition,
investment,
transparency,
patents etc.
The round has
not yet
concluded.
Bali Package
signed on the
7th December
2013.

3. Trade and Employment and was the outcome of the failure of negotiating governments to create
the International Trade Organization (ITO). GATT was signed by 23 nations in Geneva on
October 30, 1947 and took effect on January 1, 1948. It lasted until the signature by 123 nations
in Marrakesh on April 14, 1994 of the Uruguay Round Agreements, which established the World
Trade Organization (WTO) on January 1, 1995.
The original GATT text (GATT 1947) is still in effect under the WTO framework, subject to the
modifications of GATT 1994.[1]
Contents
 1 Rounds
o 1.1 Annecy Round: 1949
o 1.2 Torquay Round: 1951
o 1.3 Geneva Round: 1955–59
o 1.4 Dillon Round: 1960–62
o 1.5 Kennedy Round: 1962–67
o 1.6 Tokyo Round: 1973–79
o 1.7 Uruguay Round: 1986–94
 2 GATT and the World Trade Organization
 3 See also
 4 References
 5 Further reading
 6 External links
Rounds[edit]
GATT held a total of nine rounds,
Annecy Round: 1949[edit]
The second round took place in 1949 in Annecy, France. 13 countries took part in the round. The
main focus of the talks was more tariff reductions, around 5000 in total.
Torquay Round: 1951[edit]
The third round occurred in Torquay, England in 1950. Thirty-eight countries took part in the
round. 8,700 tariff concessions were made totaling the remaining amount of tariffs to ¾ of the
tariffs which were in effect in 1948. The contemporaneous rejection by the U.S. of the Havana
Charter signified the establishment of the GATT as a governing world body.[3]
Geneva Round: 1955–59[edit]
The fourth round returned to Geneva in 1955 and lasted until May 1956. Twenty-six countries
took part in the round. $2.5 billion in tariffs were eliminated or reduced.

4. Dillon Round: 1960–62[edit]
The fifth round occurred once more in Geneva and lasted from 1960-1962. The talks were named
after U.S. Treasury Secretary and former Under Secretary of State, Douglas Dillon, who first
proposed the talks. Twenty-six countries took part in the round. Along with reducing over $4.9
billion in tariffs, it also yielded discussion relating to the creation of the European Economic
Community (EEC).
Kennedy Round: 1962–67[edit]
The sixth round of GATT multilateral trade negotiations, held from 1963 to 1967. It was named
after U.S. President John F. Kennedy in recognition of his support for the reformulation of the
United States trade agenda, which resulted in the Trade Expansion Act of 1962. This Act gave
the President the widest-ever negotiating authority.
As the Dillon Round went through the laborious process of item-by-item tariff negotiations, it
became clear, long before the Round ended, that a more comprehensive approach was needed to
deal with the emerging challenges resulting from the formation of the European Economic
Community (EEC) and EFTA, as well as Europe's re-emergence as a significant international
trader more generally.
Japan's high economic growth rate portended the major role it would play later as an exporter,
but the focal point of the Kennedy Round always was the United States-EEC relationship.
Indeed, there was an influential American view that saw what became the Kennedy Round as the
start of a transatlantic partnership that might ultimately lead to a transatlantic economic
community.
To an extent, this view was shared in Europe, but the process of European unification created its
own stresses under which the Kennedy Round at times became a secondary focus for the EEC.
An example of this was the French veto in January 1963, before the round had even started, on
membership by the United Kingdom.
Another was the internal crisis of 1965, which ended in the Luxembourg Compromise.
Preparations for the new round were immediately overshadowed by the Chicken War, an early
sign of the impact variable levies under the Common Agricultural Policy would eventually have.
Some participants in the Round had been concerned that the convening of UNCTAD, scheduled
for 1964, would result in further complications, but its impact on the actual negotiations was
minimal.
In May 1963 Ministers reached agreement on three negotiating objectives for the round:
(a) Measures for the expansion of trade of developing countries as a means of furthering their
economic development,
(b) Reduction or elimination of tariffs and other barriers to trade, and

5. (c) Measures for access to markets for agricultural and other primary products.
The working hypothesis for the tariff negotiations was a linear tariff cut of 50% with the smallest
number of exceptions. A drawn-out argument developed about the trade effects a uniform linear
cut would have on the dispersed rates (low and high tariffs quite far apart) of the United States as
compared to the much more concentrated rates of the EEC which also tended to be in the lower
held of United States tariff rates.
The EEC accordingly argued for an evening-out or harmonization of peaks and troughs through
its cerement, double cart and thirty: ten proposals. Once negotiations had been joined, the lofty
working hypothesis was soon undermined. The special-structure countries (Australia, Canada,
New Zealand and South Africa), so called because their exports were dominated by raw
materials and other primary commodities, negotiated their tariff reductions entirely through the
item-by-item method.
In the end, the result was an average 35% reduction in tariffs, except for textiles, chemicals, steel
and other sensitive products; plus a 15% to 18% reduction in tariffs for agricultural and food
products. In addition, the negotiations on chemicals led to a provisional agreement on the
abolition of the American Selling Price (ASP). This was a method of valuing some chemicals
used by the noted States for the imposition of import duties which gave domestic manufacturers
a much higher level of protection than the tariff schedule indicated.
However, this part of the outcome was disallowed by Congress, and the American Selling Price
was not abolished until Congress adopted the results of the Tokyo Round. The results on
agriculture overall were poor. The most notable achievement was agreement on a Memorandum
of Agreement on Basic Elements for the Negotiation of a World Grants Arrangement, which
eventually was rolled into a new International Grains Arrangement.
The EEC claimed that for it the main result of the negotiations on agriculture was that they
"greatly helped to define its own common policy". The developing countries, who played a
minor role throughout the negotiations in this Round, benefited nonetheless from substantial
tariff cuts particularly in non-agricultural items of interest to them.
Their main achievement at the time, however, was seen to be the adoption of Part IV of the
GATT, which absolved them from according reciprocity to developed countries in trade
negotiations. In the view of many developing countries, this was a direct result of the call at
UNCTAD I for a better trade deal for them.
There has been argument ever since whether this symbolic gesture was a victory for them, or
whether it ensured their exclusion in the future from meaningful participation in the multilateral
trading system. On the other hand, there was no doubt that the extension of the Long-Term
Arrangement Regarding International Trade in Cotton Textiles, which later became the Multi-
Fiber Arrangement, for three years until 1970 led to the longer-term impairment of export
opportunities for developing countries.

6. Another outcome of the Kennedy Round was the adoption of an Anti-dumping Code, which gave
more precise guidance on the implementation of Article VI of the GATT. In particular, it sought
to ensure speedy and fair investigations, and it imposed limits on the retrospective application of
anti-dumping measures.
Kennedy Round took place from 1962-1967. $40 billion in tariffs were eliminated or reduced.
Tokyo Round: 1973–79[edit]
Reduced tariffs and established new regulations aimed at controlling the proliferation of non-
tariff barriers and voluntary export restrictions. 102 countries took part in the round. Concessions
were made on $190 billion worth.
Uruguay Round: 1986–94[edit]
The Uruguay Round began in 1986. It was the most ambitious round to date, hoping to expand
the competence of the GATT to important new areas such as services, capital, intellectual
property, textiles, and agriculture. 123 countries took part in the round. The Uruguay Round was
also the first set of multilateral trade negotiations in which developing countries had played an
active role.[4]
Agriculture was essentially exempted from previous agreements as it was given special status in
the areas of import quotas and export subsidies, with only mild caveats. However, by the time of
the Uruguay round, many countries considered the exception of agriculture to be sufficiently
glaring that they refused to sign a new deal without some movement on agricultural products.
These fourteen countries came to be known as the "Cairns Group", and included mostly small
and medium-sized agricultural exporters such as Australia, Brazil, Canada, Indonesia, and New
Zealand.
The Agreement on Agriculture of the Uruguay Round continues to be the most substantial trade
liberalization agreement in agricultural products in the history of trade negotiations. The goals of
the agreement were to improve market access for agricultural products, reduce domestic support
of agriculture in the form of price-distorting subsidies and quotas, eliminate over time export
subsidies on agricultural products and to harmonize to the extent possible sanitary and
phytosanitary measures between member countries.
GATT and the World Trade Organization[edit]
Main article: Uruguay Round
In 1993, the GATT was updated (GATT 1994) to include new obligations upon its signatories.
One of the most significant changes was the creation of the World Trade Organization (WTO).
The 75 existing GATT members and the European Communities became the founding members
of the WTO on 1 January 1995. The other 52 GATT members rejoined the WTO in the
following two years (the last being Congo in 1997). Since the founding of the WTO, 21 new

7. non-GATT members have joined and 29 are currently negotiating membership. There are a total
of 159 member countries in the WTO, with Laos and Tajikistan being new members as of 2013.
Of the original GATT members, Syria[5][6]
and the SFR Yugoslavia have not rejoined the WTO.
Since FR Yugoslavia, (renamed as Serbia and Montenegro and with membership negotiations
later split in two), is not recognised as a direct SFRY successor state; therefore, its application is
considered a new (non-GATT) one. The General Council of WTO, on 4 May 2010, agreed to
establish a working party to examine the request of Syria for WTO membership.[7][8]
The
contracting parties who founded the WTO ended official agreement of the "GATT 1947" terms
on 31 December 1995. Montenegro became a member in 2012, while Serbia is in the decision
stage of the negotiations and is expected to become one of the newest members of the WTO in
2014 or in near future.
Whilst GATT was a set of rules agreed upon by nations, the WTO is an institutional body. The
WTO expanded its scope from traded goods to include trade within the service sector and
intellectual property rights. Although it was designed to serve multilateral agreements, during
several rounds of GATT negotiations (particularly the Tokyo Round) plurilateral agreements
created selective trading and caused fragmentation among members. WTO arrangements are
generally a multilateral agreement settlement mechanism of GATT.[9]
See also[edit]
 Most favoured nation
 GATT special and differential treatment
References[edit]
1. ^ World Trade Organization: WTO legal texts; General Agreement on Tariffs and Trade 1994
2. ^ a)The GATT years: from Havana to Marrakesh,World Trade Organization
b)Timeline: World Trade Organization – A chronology of key events, BBC News
c)Brakman-Garretsen-Marrewijk-Witteloostuijn, Nations and Firms in the Global Economy,
Chapter 10: Trade and Capital Restriction
3. ^ Michael Hudson, Super Imperialism: The Origin and Fundamentalsof U.S. World Dominance,
2nd ed. (London and Sterling, VA: Pluto Press,2003), 258.
4. ^ "The GATT Uruguay Round". ODI briefing paper. Overseas Development Institute. Retrieved
28 June 2011.
5. ^ "Fiftieth Anniversary GATT". Wto.org. Retrieved 2013-08-16.
6. ^ "Understanding the WTO - members". WTO. Retrieved 2013-08-16.
7. ^ "Accession status: Syrian Arab Republic". WTO. Retrieved 2013-08-16.
8. ^ "2010 News items - Working party established on Syria’s membership request". WTO.
Retrieved 2013-08-16.
9. ^ What is the WTO? (Official WTO site)
Further reading[edit]

8.  Aaronson Susan A. Trade and the American Dream: A Social History of Postwar Trade
Policy & co (1996)
 Irwin, Douglas A. "The GATT in Historical Perspective," American Economic Review
Vol. 85, No. 2, (May, 1995), pp. 323–328 in JSTOR
 McKenzie, Francine. "GATT and the Cold War," Journal of Cold War Studies, Summer
2008, 10#3 pp 78–109
 Zeiler, Thomas W. Free Trade, Free World: The Advent of GATT (1999) excerpt and text
search
External links[edit]
 GATT Turns 80
 All GATT Panel Reports
 GATT Digital Library 1947-1994 at Stanford University
 The WTO and Global Trade at PBS
 BBCnews World/Europe country profile
 ODI Briefing Paper/ GATT Uruguay Round
 Agriculture in the GATT: A Historical Account
 Text of GATT 1947
 Text of GATT 1994
 v
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International trade
Terminology
 Absolute advantage
 Balance of payments
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 Fair trade
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 Globalization
 Import substitution
industrialization
 Net capital outflow
 Outsourcing
 Trade justice
 Trading nation

9. Organizations
and policies
 International Monetary Fund
(IMF)
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Trade and Development
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o International Trade Centre
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Schools of thought
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Regional organizations
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 SACU
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Trading partners
 Argentina
 Canada
 China
 European Union
 Germany

10.  India
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o education
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 History of globalization
o archaic

11. o early modern
 Political globalization
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Issues
Global
 Disease
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Other
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o reverse
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Theories
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o history of
 Primitive accumulation
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Notable
scholars
 Samir Amin
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 Jeffrey Sachs
 Saskia Sassen
 John R. Saul
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 Joseph Stiglitz
 John Urry
 Immanuel Wallerstein

13.  Portal
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System
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Issues
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Ministerial
Conferences
 1st (1996)
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 3rd (1999)
 4th (2001)

14.  5th (2003)
 6th (2005)
 7th (2009)
 8th (2011)
 9th (2013)
People
 Pascal Lamy (Director-General)
 Roberto Azevêdo (Elected Director-General)
 Supachai Panitchpakdi (Former Director-General)
 Deputy Directors-General:
o Alejandro Jara
o Valentine Rugwabiza
o Harsha Singh
o Rufus Yerxa
Members
 Albania
 Algeria
 Angola
 Antigua and Barbuda
 Argentina
 Armenia
 Australia
 Bahrain
 Bangladesh
 Barbados
 Belize
 Benin
 Bolivia
 Botswana
 Brazil
 Brunei
 Burkina Faso
 Burma
 Burundi
 Cambodia
 Cameroon
 Canada
 Cape Verde
 Central African Republic
 Chad
 Chile
 China
 Colombia

15.  Democratic Republic of the Congo
 Republic of the Congo
 Costa Rica
 Côte d'Ivoire
 Cuba
 Djibouti
 Dominica
 Dominican Republic
 Ecuador
 Egypt
 El Salvador
 European Union¹
 Fiji
 Gabon
 The Gambia
 Georgia
 Ghana
 Grenada
 Guatemala
 Guinea
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 Guyana
 Haiti
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 Hong Kong²
 Iceland
 India
 Indonesia
 Israel
 Jamaica
 Japan
 Jordan
 Kenya
 South Korea
 Kuwait
 Kyrgyzstan
 Lesotho
 Liechtenstein
 Macau²
 Macedonia
 Madagascar
 Malawi
 Malaysia
 Maldives
 Mali

16.  Mauritania
 Mauritius
 Mexico
 Moldova
 Mongolia
 Montenegro
 Morocco
 Mozambique
 Namibia
 Nepal
 New Zealand
 Nicaragua
 Niger
 Nigeria
 Norway
 Oman
 Pakistan
 Panama
 Papua New Guinea
 Paraguay
 Peru
 Philippines
 Qatar
 Russia
 Rwanda
 St. Kitts and Nevis
 St. Lucia
 St. Vincent and the Grenadines
 Samoa
 Saudi Arabia
 Senegal
 Sierra Leone
 Singapore
 Solomon Islands
 South Africa
 Sri Lanka
 Suriname
 Swaziland
 Switzerland
 Taiwan³
 Tanzania
 Thailand
 Togo
 Tonga
 Trinidad and Tobago

17.  Tunisia
 Turkey
 Uganda
 Ukraine
 United Arab Emirates
 United States
 Uruguay
 Venezuela
 Vietnam
 Zambia
 Zimbabwe
1. All twenty-eight member states ofthe European Union are also members of the WTO in
their own right:
 Austria
 Belgium
 Bulgaria
 Croatia
 Cyprus
 Czech Republic
 Denmark
 Estonia
 Finland
 France
 Germany
 Greece
 Hungary
 Ireland
 Italy
 Latvia
 Lithuania
 Luxembourg
 Malta
 Netherlands
 Poland
 Portugal
 Romania
 Slovakia
 Slovenia
 Spain
 Sweden
 United Kingdom

18. 2. Special administrative region of the People's Republic of China, participates as "Hong
Kong, China" and "Macao China". 3. Officially the Republic of China, participates as
"Separate Customs Territory of Taiwan, Penghu, Kinmen and Matsu"
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20.  Treaties of Sweden
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21.  Treaties extended to British Gambia
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