gatt agreement

the general agreement on tariffs and trade (gatt) was the first multilateral free trade agreement. the general agreement on tariffs and trade was a free trade agreement that eliminated tariffs and increased international trade. the purpose of the gatt was to eliminate harmful trade protectionism, which likely contributed to the 66% reduction of global trade during the great depression. the agreement excluded the special tariffs among members of the british commonwealth and customs unions. the third provision was added in 1965, addressing developing countries joining the gatt. as the gatt increased the number of middle-class consumers throughout the world, there was an increased demand for trade with developed countries.