On This PageVol. 27, No. 4

An introduction to the WTO and GATT
Last Updated: 11/03/03
This article reviews the history of GATT and the WTO. It discusses the founding principles of the post-WW II world trading system—reciprocity and nondiscrimination. Lastly, the article reviews the economics literature on regional trade agreements and administered protection, two important exceptions to GATT’s requirement for nondiscrimination in trade policy.