The General Agreement on the Trade in Services. This treaty of
the World Trade Organisation entered effect in 1995 as a result of the Uruguay
round of negotiations. It was created to extend multilateral trading systems to cover services as
well as goods.
1: Hey guys! Don't discriminate against my providing services in your country!
2: Aha!
Eat tariffs! My domestic service industry has an unfair advantage now!
1: GATS will protect me!
2: Oh god the GATS why me