General Agreement On Tariffs And Trade (GATT) An agreement signed in 1947 whose purpose was to promote global trade between members through a reduction in tariffs.
Investopedia Says: The formation of GATT - and its subsequent amendments up to 1994 - laid the framework for the creation of the WTO in 1995.
Related Terms: Embargo Most Favored Nation Clause National Treatement Tariff Trade World Trade Organization - WTO