economy

February 25, 2026

Why the GATT Thrived and the WTO Died

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Why the GATT Thrived and the WTO Died

TL;DR

  • President Trump's tariffs have significantly damaged multilateral trade rules and the World Trade Organization's (WTO) role.
  • Post-WWII U.S. foreign policy aimed to create institutions for cooperation between the U.S. and the Soviet Union.
  • The creation of the General Agreement on Tariffs and Trade (GATT) presupposed systemic compatibility for international economic integration.
  • The Soviet Union's state-monopoly trading system was incompatible with the premises of GATT.
  • The Soviet Union sought reconstruction loans, while the U.S. insisted on conditions like financial transparency and political moderation.

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