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23 countries sign the GATT agreement in Geneva

The General Agreement on Tariffs and Trade (GATT) is a legal agreement between many countries, whose overall purpose was to promote international trade by reducing or eliminating trade barriers such...

The General Agreement on Tariffs and Trade (GATT) is a legal agreement between many countries, whose overall purpose was to promote international trade by reducing or eliminating trade barriers such as tariffs or quotas. According to its preamble, its purpose was the "substantial reduction of tariffs and other trade barriers and the elimination of preferences, on a reciprocal and mutually advantageous basis".

The GATT was first discussed during the United Nations Conference on Trade and Employment and was the outcome of the failure of negotiating governments to create the International Trade Organization (ITO). It was signed by 123 nations in Geneva on 30 October 1947, and was applied on a provisional basis 1 January 1948.

Historical Significance

The General Agreement on Tariffs and Trade (GATT) is a legal agreement between many countries, whose overall purpose was to promote international trade by reducing or eliminating trade barriers such as tariffs or quotas.

Events Before

  1. UN General Assembly meets for the first time in London

    The United Nations General Assembly (UNGA or GA) is one of the six principal organs of the United Nations (UN), serving as its main deliberative, policymaking, and representative organ.

  2. United Nations Security Council holds its first meeting, at Westminster Central Hall in Westminster, England

    United Nations Security Council holds its first meeting, at Westminster Central Hall in Westminster, England

  3. American actor John Wayne (38) weds actress Esperanza Baur (25) in Long Beach, California; divorce in 1954

    American actor John Wayne (38) weds actress Esperanza Baur (25) in Long Beach, California; divorce in 1954

  4. NY Giants outfielder Danny Gardella is the first major leaguer to announce he is jumping to the "outlaw" Mexican Basebal

    NY Giants outfielder Danny Gardella is the first major leaguer to announce he is jumping to the "outlaw" Mexican Baseball League for contract worth $13,000; triggers US MLB Commissioner Happy Chandler to impose a five-year minimum ban on players who move to the rival league

  5. General Juan Perón is first elected President of Argentina

    Juan Domingo Perón was an Argentine military officer and politician who was the 29th and 40th president of Argentina, serving from 1946 to his overthrow in 1955, and from 1973 to 1974.

Events After

  1. 25 states merge under the Government of Orissa

    25 states merge under the Government of Orissa

  2. Mahatma Gandhi begins his final fast

    Mahatma Gandhi was assassinated on 30 January 1948 at the age of 78 in the compound of The Birla House (now Gandhi Smriti), a large mansion in central New Delhi.

  3. Mahatma Gandhi is assassinated in the garden of the New Delhi home he is visiting by Hindu extremist Nathuram Godse

    Mahatma Gandhi is assassinated in the garden of the New Delhi home he is visiting by Hindu extremist Nathuram Godse

  4. American comic Dick Van Dyke (22) weds American girlfriend Margerie Willett (20) on the radio show "Bride and Groom" in

    American comic Dick Van Dyke (22) weds American girlfriend Margerie Willett (20) on the radio show "Bride and Groom" in Los Angeles California; divorce in 1984 after a long separation

  5. Iris Apfel (née Barrel) marries Carl Apfel

    Iris Apfel (née Barrel) marries Carl Apfel

More from the 1940s

D-Day: The Normandy Landings

Allied forces launch the largest amphibious invasion in history on the beaches of Normandy, France, marking the beginning of the liberation of Western Europe from Nazi occupation.

wars conflicts

World War II: Representatives of 26 nations at war with the Axis powers sign the Declaration of the United Nations, pled

World War II: Representatives of 26 nations at war with the Axis powers sign the Declaration of the United Nations, pledging to make no separate peace deals

Mahatma Gandhi begins a march for peace in East Bengal

Mohandas Karamchand Gandhi (2 October 1869 – 30 January 1948) was an Indian lawyer, anti-colonial nationalist, and political thinker who employed nonviolent resistance to lead the successful campaign…

birth

Omar al-Bashir is born

Omar al-Bashir is born

Frequently Asked Questions

What happened on October 30, 1947?
The General Agreement on Tariffs and Trade (GATT) is a legal agreement between many countries, whose overall purpose was to promote international trade by reducing or eliminating trade barriers such as tariffs or quotas. According to its preamble, its purpose was the "substantial reduction of tariffs and other trade barriers and the elimination of preferences, on a reciprocal and mutually advantageous basis". The GATT was first discussed during the United Nations Conference on Trade and Employment and was the outcome of the failure of negotiating governments to create the International Trade Organization (ITO).
Why is 23 countries sign the GATT agreement in Geneva significant?
The General Agreement on Tariffs and Trade (GATT) is a legal agreement between many countries, whose overall purpose was to promote international trade by reducing or eliminating trade barriers such as tariffs or quotas.

Explore More

October 30 in HistoryYear 1947