Formed in 1948 after World War II, expand international trade by eliminating or reducing tariffs signed by 23 countries.
It held eight rounds of meetings between April 1947 and September 1986.The first meeting was in Geneva, Switzerland. The eighth round of meetings in 1986 led to the creation of the World Trade Organization.
Was intended to boost economic recovery after the war. The members established tax concessions over US$10 billion of trade around the globe.
GATT restored economic health to the world after the devastation of the depression and World War II.
In conclusion, It was created to aid the global economy and end the barriers of international trade by lowering tariffs.