Negotiations under the General Agreement on Tariffs and Trade (GATT) have NOT had much impact on reducing the level of tariffs over the last several decades.

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Negotiations under the GATT have led to significant reductions in tariffs over the last several decades, with the average tariff rate in developed countries falling from around 40% in the 1940s to less than 5% today. The establishment of the World Trade Organization (WTO) in 1995 further facilitated multilateral negotiations aimed at reducing trade barriers, and many countries have engaged in bilateral and regional trade agreements to further liberalize their markets.

Negotiations Under the General Agreement on Tariffs and Trade (GATT)