The General Agreement on Tariffs and Trade (GATT) provided global trade rules and dispute resolution from 1948 to 1994, established after World War II to liberalize world trade by reducing tariffs. GATT's first round of negotiations impacted one fifth of world trade among 23 founding members. Its final eighth round in 1986-94 established the World Trade Organization and new trade agreements while also generating political conflicts between corporations seeking new markets and labor seeking to protect domestic jobs through trade restrictions.