9: Happy 70th GATTiversary–The Origins of Multilateral Trade

Explore the origins of the multilateral trade, including the impact of UK tariffs, high tariffs hindering economic recovery, and the power dynamics between the US and UK. Delve into the negotiation process of the GATT, the initial disagreement between the US and Canada, and the significant tariff reductions achieved. Debunk the myth of high tariffs and discover the challenges faced during the negotiation in 1947. Highlight the current challenges faced by the GATT organization, including integrating China and the diminishing US leadership.