Worldwide 1947-1962

Synopsis

The General Agreement on Tariffs and Trade (GATT) was created after World War II as one of three international organizations intended to oversee postwar economic relations; the other two were the International Monetary Fund and the World Bank. The idea of such an organization first originated with a Preparatory Committee, established in February 1946 by the United Nations Economic Council, to develop an agenda and proposals for an international conference on trade and employment. This resulted in a charter for a proposed International Trade Organization (ITO), which was supported by the United States. More bilateral negotiations culminated in a draft charter, which was amended in successive conferences held in 1946-1948 in London, New York, Geneva, and Havana. The latter gave its name to the final version, created there in March 1948, but key countries objected to parts...