What agreement preceded the World Trade Organization as the main global trade framework?

The General Agreement on Tariffs and Trade, commonly called GATT, preceded the World Trade Organization as the main global trade framework. GATT entered into force on 1 January 1948.

GATT was designed after the Second World War to reduce tariffs and other barriers affecting trade in goods. It was originally intended to operate alongside a proposed International Trade Organization, but that organization never came into force.

For almost five decades, GATT provided the rules and negotiating structure for international merchandise trade. Successive negotiating rounds reduced tariffs and developed additional disciplines, including rules addressing subsidies, dumping and technical barriers.

The Uruguay Round led to the creation of the WTO in 1995. GATT 1994 remains part of the WTO legal framework, so GATT did not simply disappear; its updated goods-trade rules were incorporated into the new organization.