GATT – General Agreement on Tariffs and Trade

General Agreement on Tariffs and Trade – superseded as an international organization by the WTO. An updated General Agreement is now the WTO agreement governing trade in goods. GATT 1947: The official legal term for the old (pre-1994) version of the GATT. GATT 1994: The official legal term for the new version of the General Agreement, incorporated into the WTO, and including GATT 1947.