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The economists Harry Dexter White (left) and John Maynard Keynes (right) at the Bretton Woods Conference in New Hampshire [27]. The WTO precursor, General Agreement on Tariffs and Trade (GATT), was established by a multilateral treaty of 23 countries in 1947 after the end of World War II, in the wake of other new multilateral institutions dedicated to international economic cooperation—such ...
The GATT was the only multilateral instrument governing international trade from 1946 until the WTO was established on 1 January 1995. [9] Despite attempts in the mid-1950s and 1960s to create some form of institutional mechanism for international trade, the GATT continued to operate for almost half a century as a semi-institutionalized multilateral treaty regime on a provisional basis. [10]
It remained in effect until 1 January 1995, when the World Trade Organization (WTO) was established after agreement by 123 nations in Marrakesh on 15 April 1994, as part of the Uruguay Round Agreements. The WTO is the successor to the GATT, and the original GATT text (GATT 1947) is still in effect under the WTO framework, subject to the ...
In a similar vein, the WTO would be well-positioned to reframe the trade system’s approach to contested subsidies, such as the incentives for clean energy found in the U.S. Inflation Reduction Act.
2011: The WTO and preferential trade agreements: From co-existence to coherence; 2012: Trade and public policies: A closer look at non-tariff measures in the 21st century; 2013: Factors shaping the future of world trade; 2014: Trade and development: recent trends and the role of the WTO
Dispute settlement or dispute settlement system (DSS) is regarded by the World Trade Organization (WTO) as the central pillar of the multilateral trading system, and as the organization's "unique contribution to the stability of the global economy". [1]
A WTO document sent by the General Council chair said the first day of the Nov. 28-29 meeting would allow Okonjo-Iweala, a former Nigerian finance minister, to present her vision for the 166 ...
China is prepared to negotiate with the Trump administration on how it can make more investments in the US after the president's decision to impose 10% tariffs on the country -- and TikTok could ...