Gatt: general agreement on trade and tariffs, wto: world trade organisation. Gatt: ad hoc series of agreements reduced regulation, tariffs, quotas (not an organisation) Uruguay round (1986-1994) end: decided to create wto (1995) Gats: general agreement on trade and services, trips: intellectual property rights. Us gives this status to nat if going to get wto a deal. Nat pays minimum tariff, others nat that don"t have this status charged diff tariff. Customs union: eu, grp nats common tariff policy (no tariffs b/w nats) Free trade area: nafta, grps of nats agreed to trade rules b/w ea/other h: diff trade policy w/rest of the world. If nat not following free trade agreement nat can go to wto + demand resolution. Goes to panel of experts appointed by wto. Possibility of appeal, but decision generally allows hurt nat to impose trade sanctions. Quotas: only going to allow certain amount products to come into nat.