.png)
The General Agreement on Tariffs and Trade (GATT) is a multilateral treaty created to promote international trade by reducing tariffs and other trade barriers between participating countries.
GATT was established in 1947 as a framework for negotiating trade agreements and addressing international trade disputes. It aimed to create a fair, transparent, and predictable trading environment by lowering tariffs, facilitating global commerce, and encouraging economic cooperation among nations. The agreement led to the eventual formation of the World Trade Organization (WTO) in 1995, which expanded the scope of global trade regulations.
The General Agreement on Tariffs and Trade (GATT) works by establishing trade rules that reduce tariffs and other barriers, creating an environment where international business can flourish. For your business, this means access to lower shipping costs and the ability to expand your market reach globally. With fewer barriers, you can reduce expenses and grow your customer base, benefiting from a more competitive edge in the international marketplace.
Buske Logistics is a Top 40 3PL with over 35 warehouses across North America, specializing in warehousing, transportation, and value-added services. We provide tailored logistics solutions serving major Fortune 500 companies.
GATT played a significant role in establishing the foundation for international trade by lowering tariffs and trade barriers, thereby promoting economic growth and stability among member countries. It ensured that global trade could proceed smoothly with minimal friction, allowing businesses to trade more freely across borders.
For example, in the 3PL logistics and warehousing sectors, GATT facilitated smoother global trade by reducing tariffs on imported goods, which led to a more streamlined movement of products between countries. This made it easier for logistics companies to manage international shipments and reduce costs for their clients.
