How GATT Relates to international Trade

- Through GATT the US regulated 45,000 tariff rates with 22 other countries which affected trade between these countries

- GATT also relates to trade because it is an agreement under the provisions of US Reciprocal Trade Act of 1934.

- international trade is affected by GATT because it was instituted to regulate trade and and investment between countries.

- However, GATT does not settle trade disputes

- Founded the World Trade Organization

- GATT influenced national trade by promoting a"substantial reduction of tariffs and other trade barriers and the elimination of preferences, on a reciprocal and mutually advantageous basis."