The United States has historically championed free trade, particularly after World War II. It played a key role in establishing the General Agreement on Tariffs and Trade (GATT) and later the World Trade Organization (WTO) , both promoting reduced trade barriers.
The World Trade Organization (WTO), established in 1995 as the successor to the General Agreement on Tariffs and Trade (GATT), was envisioned as the guardian of free and fair global trade.
In July 1944, delegates from 44 countries gathered in the UN sponsored Conference in Bretton Woods, New Hampshire, to decide on a post-Second World War monetary and financial order.
