TheGeneralAgreementonTariffsandTrade1994(GATT1994)istheupdatedversionoftheoriginalGATTtreatyestablishedin1947.ItformsanintegralpartoftheWorldTradeOrganization(WTO)agreementsandservesasthefoundationforinternationaltraderulesgoverninggoods.GATT1994incorporatestheoriginalGATTtextalongwithsubsequentamendments,understandings,andprotocols.Itskeyprinciplesincludenon-discrimination(throughMost-Favored-NationtreatmentandNationalTreatment),progressivetariffreduction,andtransparencyintraderegulations.Theagreementaddressesvariousaspectsoftradeingoods,includingcustomsprocedures,subsidies,anti-dumpingmeasures,andtrade-relatedinvestmentmeasures.GATT1994continuestoplayacentralroleinpromotingfreetradeandresolvingtradedisputesamongWTOmembercountries.
