GATT

The General Agreement on Tariffs and Trade (GATT) is a legal agreement between United Nation members, whose overall purpose is to promote international trade by reducing or eliminating trade barriers such as tariffs or quotas. The Multilateral Treaty was signed 30 October 1947 in Geneva.

Following the United Kingdom's vote to withdraw from the European Union, supporters of leaving the EU suggested that Article 24, paragraph 5B of the treaty could be used to maintain a "standstill" in trading conditions between the UK and the EU in the event of the UK leaving the EU without a trade deal, hence preventing the introduction of tariffs.