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Simple English definitions for legal terms

GATT

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A quick definition of GATT:

The General Agreement on Tariffs and Trade (GATT) is an agreement between many countries to reduce barriers to trade. It started in 1947 with 23 countries and grew to over 100 by 1973. GATT successfully lowered tariffs, quotas, and other barriers to trade among member countries. Before GATT, many countries had high tariffs, which made it hard to trade with other countries. GATT helped rebuild economies after World War II by making it easier to trade. GATT became its own organization for managing trade issues among members. The WTO replaced GATT and is now the forum for enforcing and changing provisions of the GATT. GATT requires member states to apply tariffs in a non-discriminate way and limits the ability of countries to place higher restrictions on goods from other member states than within their own country. Other major sources of friction for international trade such as quotas, dumping, and subsidies are very limited under GATT, reducing the ability of countries to be singled out by another country.

A more thorough explanation:

The General Agreement on Tariffs and Trade (GATT) is an agreement between many countries to reduce barriers to trade. It was created after World War II to help rebuild economies and counterbalance the harmful effects of high tariffs. GATT successfully reduced average tariffs among member countries from over 20% to around 5% or less.

For example, before GATT, many countries had tariffs of over 40% during the 1930s. But with GATT, member states agreed to apply tariffs in a non-discriminate way, meaning they should apply to all member states equally with limited exceptions. GATT also limited the ability of countries to place higher restrictions on goods from other member states than within their own country. This helped to reduce friction for international trade and allowed for more beneficial global trade among member states.

While GATT was meant as a multilateral treaty, it effectively became its own organization for managing trade issues among members due to the failed International Trade Organization (ITO). After many more rounds of negotiations, GATT evolved into the World Trade Organization (WTO), which became the new forum for enforcing and changing provisions of the GATT.

Overall, GATT was an important agreement that helped to reduce barriers to trade and promote economic growth among member states.

garnishment | gender bias

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medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
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