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The General Agreement on Tariffs and Trade (GATT) was established in 1948 as an international agreement to promote free trade and reduce trade barriers. The United States has been a member since the beginning and has played a significant role in shaping the organization and its policies. Over the years, GATT has had a significant impact on the US international trade and the economy as a whole.

Firstly, GATT has helped to lower trade barriers between countries, which has created new opportunities for US businesses to sell their products and services abroad. By reducing tariffs and other trade barriers, US companies can access new markets that were previously closed off. This has resulted in increased exports and has helped to support domestic economic growth.

Secondly, GATT has helped to establish rules and regulations that govern international trade. This has provided more predictability and stability to businesses operating in the global market. The United States has been an active participant in negotiating these rules, which has helped to protect US businesses from unfair trade practices.

Thirdly, GATT has also had significant impacts on US industries and jobs. While it has created new opportunities for US businesses, it has also put pressure on certain industries that cannot compete with cheaper imports. This has resulted in job losses in some sectors, particularly manufacturing. However, it has also created new opportunities in other industries that have been able to take advantage of the new global market.

Finally, the establishment of the World Trade Organization (WTO) in 1995, which replaced GATT, has further strengthened the global trading system. The WTO provides a forum for member countries to negotiate and enforce trade agreements, which has helped to further reduce trade barriers and promote free trade. The United States has been an active participant in the WTO and has used its influence to further its economic interests.

In conclusion, GATT has had a significant impact on US international trade and the economy as a whole. While it has created new opportunities for US businesses, it has also put pressure on certain industries. Overall, GATT has helped to promote free trade and reduce trade barriers, which has created a more level playing field for US businesses operating in the global market.

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