General Agreement on Tariffs and Trade, an international treaty (1948–94) to promote trade and economic development by reducing tariffs and other restrictions. It was superseded by the establishment of the World Trade Organization in 1995.
Definition of GATT in US English:
GATT
proper nounɡatɡæt
General Agreement on Tariffs and Trade, an international treaty (1948–94) to promote trade and economic development by reducing tariffs and other restrictions. It was superseded by the establishment of the World Trade Organization in 1995.