Ang layunin ng GA TT ay suportahan ang internasyonal na kala kalan sa pamamagitan ng pag bawas o pag elimina ng mga had lang gaya ng tariffs o quotas. Most nations have adopted the nation`s most preferred principle when setting tariffs, which has largely replaced quotas. Tariffs (preferably quotas, but still an obstacle to trade) have in turn been constantly reduced in successive rounds of negotiations. This series of meetings and reduced rates would continue, allowing for new GATT provisions in the process. The average tariff rate rose from about 22% when the GATT was first signed in Geneva in 1947, to about 5% until the end of the 1993 Uruguay Cycle, which also negotiated the creation of the WTO. The General Agreement on Tariffs and Trade (GATT), signed on 30 October 1947 by 23 countries, was a legal agreement aimed at minimizing barriers to international trade by eliminating or reducing quotas. , tariffs and subsidies, while maintaining important rules. The GATT is expected to stimulate economic recovery after the Second World War through the reconstruction and liberalization of world trade. Henry C. Carey, entirely named Henry Charles Carey (born December 15, 1793, Philadelphia, Pennsylvania, USA – died October 13, 1879, Philadelphia), American economist and sociologist, often called founder of the American business school, widely known in his day as an advocate of trade barriers. The GATT was created to create rules to end or limit the most costly and undesirable features of the pre-war period, namely quantitative barriers to trade such as trade controls and quotas. The agreement also provided for a system for resolving trade disputes between nations and the framework allowed for a series of multilateral negotiations on the removal of customs barriers. The GATT was considered a major success in the post-war years.
One of GATT`s most important achievements has been indiscriminate trade. Any GATT signatory should be treated like any other, known to be the nation`s most privileged principle and entered into the WTO. The practical result was that, once a country had negotiated a tariff reduction with some other countries (usually its major trading partners), this reduction would automatically apply to all GATT signatories. Layunin ng WTO na i-regulate ang kala kalan ng mga produkto, serbisyo, at intellectual property ng mga bansang sa organisasyon sa pamamagitan ng pagbigay ng mga balangkas para his trade agreements at dispute. The GATT has introduced the principle of the most favoured nation into members` collective agreements. The GATT came into force on January 1, 1948. From the beginning, it was refined, which eventually led to the creation, on 1 January 1995, of the World Trade Organization (WTO), which absorbed and expanded it. To date, 125 nations signed its agreements, which covered about 90% of world trade.
As an optimist, he believed in the possibility of constant economic progress and the harmony of different economic interests. Nevertheless, Carey, as a Republican and nationalist, believed that trade defence was essential in the initial phase of a country`s industrial development.