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Economic Definition of GATT. Defined.

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Term GATT Definition: The abbreviation for the General Agreement on Tariffs and Trade. A treaty, signed in 1947 by 23 countries including the United States, that was designed to reduce trade barriers. It now carries the signatures of about 100 countries and over the years has been pretty darn effective in reducing tariffs, eliminating some import quotas, and promoting commerce.

 

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Alphabetical Reference to Over 2,000 Economic Terms