This guide provides an overview of sources on the law of international trade, particularly those sources related to multilateral arrangements.
The General Agreement on Tariffs and Trade (GATT) was the first worldwide multilateral free trade agreement, in effect from June 30,1948 to January 1, 1995. Its purpose was to abolish quotas and reduce tariff duties. The World Trade Organization (WTO) succeeded the GATT, providing an institutional framework for implementing the Uruguay Round agreements, negotiating new trade rules, and settling disputes between member countries. The original GATT text is still in effect under the WTO framework, with modifications.