Retrieving "October 30 1947" from the archives

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1. General Agreement On Tariffs And Trade

   Linked via "October 30, 1947"

   The impetus for the GATT arose from the post-Second World War economic climate, where protectionist policies had stifled global commerce. Efforts to establish a comprehensive International Trade Organization (ITO) under the auspices of the United Nations ultimately failed when the U.S. Congress declined to ratify the Havana Charter in $1950$. Consequently, the GATT was implemented as an interim agreement focusing solely on tariff reduction, operating on a provisional basis for nearly five decades, leading ma…