Changes

====Recent Developments====

Events after World War II have shaped recent economic approaches to tariffs. The General Agreement on Tariffs and Trade (GATT) in 1947 was created with 23 countries in order to help foster multilateral trade that would help the global economy recover after World War II. The GATT became the foundation in which the World Trade Organization (WTO) was built, as it became its successor. The intent of this new economic order was also to fight Communism and trade was seen as vital for US policy in order to counter what they saw as threats from the Soviet Union in attracting countries to their sphere.