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Free Trade Protection and Agreements

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The international free trade systems that exist today—under the General Agreement on Tariffs and Trade (GATT) and various regional free trade groupings such as the North American Free Trade Agreement (NAFTA) and the European Union—developed in large part from the experience of the Great Depression and World War II. The prevailing belief at the end of World War II was that war had found its roots in the Depression, and that the dire economic conditions of the Depression had been exacerbated, if not caused, by national policies that placed protectionist trade barriers between nations.

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Copyright © 2011 Advameg, Inc.