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Boosted by jsonstein@masto.deoan.org ("Jeff Sonstein"):
jwildeboer@social.wildeboer.net ("Jan Wildeboer 😷:krulorange:") wrote:

76 years ago: The General Agreement in Tariffs and Trade (GATT) was ratified and implemented. It brought down tariffs and connected markets. The idea was that global, interconnected trade would reduce the risk of a third world war.

It took Trump 73 days to tear it down.

https://en.wikipedia.org/wiki/General%5FAgreement%5Fon%5FTariffs%5Fand%5FTrade

Effects on trade liberalisation The average tariff levels for the major GATT participants were about 22 per cent in 1947. As a result of the first negotiating rounds, tariffs were reduced in the GATT core of the United States, United Kingdom, Canada, and Australia, relative to other contracting parties and non-GATT participants. By the Kennedy round (1962–67), the average tariff levels of GATT participants were about 15%. After the Uruguay Round, tariffs were under 5%.