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... to globalization. The factors include: · The reduction in trade and investment barriers to the post- world war II period · The rapid growth and increase in the size of developing countries' economies · Changes in technology Trade Agreements Originally each nation established its own rules of governing foreign trade. Regulations and tariffs were often the outcome, leading to the tariff wars of the 1930's. Nations have found it convenient to agree to rules that limit there own freedom of action in trade matters, and generally work toward the removal of artificial and often arbitrary barriers to trade. Many trade agreements exist in the world today. Of those agreements (general agreement on tariffs and trade [GATT], the European community, and the north American free trade agreement [NAFTA] have had or will have significant impact on the united states. GATT. The first trade agreement of major significance was the general agreement of tariffs and trade. GATT was aimed at lowering ...