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The General Agreement on Tariffs and Trade (GATT) was established in 1947 to promote international trade by reducing tariffs and trade barriers among member countries. It operated through negotiation rounds and was successful in increasing global trade post-World War II, but faced limitations in addressing non-tariff barriers, leading to the creation of the World Trade Organization (WTO) in 1995. GATT laid the groundwork for the WTO, which expanded the scope of trade regulations to include services and inte

Author

Shruti Sanghi

Language

EN