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Vol. 27, No. 4
Last Updated: 11/03/2003

An introduction to the WTO and GATT

Meredith Crowley

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.