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The Complete Idiot's Guide to Economics, 2nd Edition by Tom Gorman

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International Trade Agreements

Trade agreements regulate international trade between two or more nations. An agreement may cover all imports and exports, certain categories of goods, or a single category. The United States is currently engaged in over 300 trade agreements with various nations. However, several general trade agreements have shaped trade policy on broad levels.
The most important general trade agreement is called, simply enough, the General Agreement on Tariffs and Trade (GATT). GATT was signed in October 1947 to liberalize trade, create an organization to administer more liberal trade agreements, and establish a mechanism for resolving trade disputes. The GATT organization is small and located in Geneva. More than 125 nations ...

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