It can be said that the multilateral trading system based on the GATT functioned with relative success until 1970. It was the multiple economic problems of the last decade that complicated the situation both for the GATT and for trade relations in general and that put it to the test. This article analyzes the challenges currently facing the General Agreement on Tariffs and Trade (GATT) and sets out the measures to be taken to respond to these challenges. The rules of the General Agreement, which stipulate mutual rights and obligations, as well as a system of consultation and joint efforts to solve problems and take advantage of trade opportunities, still stand. Despite pressure, GATT member governments continue to show a remarkable determination to keep the system functioning efficiently.
Keywords:
GATT, International Trade, Multilateralism, Trade Liberalization, Tokyo Round
Dunkel, A. (1982). El comercio internacional y la función del GATT. Estudios Internacionales, 15(59), p. 295–303. https://doi.org/10.5354/0719-3769.1982.15985
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