1947
Having already established the International Monetary Fund and the precursor to the World Bank, the United States and its allies create the General Agreement on Tariffs and Trade (GATT) to bolster free trade. GATT is intended to be a stopgap measure on the way to forming the International Trade Organization.

1948
Twenty-three countries ratify GATT. It is formally established in Geneva.

1950
The U.S. Congress refuses to ratify a treaty establishing the International Trade Organization. Although some 50 countries ratify the ITO's charter, the project dies, giving GATT a de facto extension from its provisional nature.

1986
An important round of discussions begins in Punta del Este, Uruguay, as ministers agree to a new negotiating agenda, including discussions on extending GATT's trading system to cover trade in services and intellectual property. The Uruguay Round results in the largest negotiating mandate on trade ever completed.

1994
After several ministerial meetings, GATT members continue to negotiate trading rules in areas such as agriculture, services and market access. Members debate the creation of a new institution to take on trade decisions on a more permanent basis. Ministers from most of the 125 governments participating in GATT sign a deal in April that creates the World Trade Organization -- a group with its own secretariat and the ability to make permanent commitments. All previous commitments under GATT had been applied on a provisional basis.

1995
The World Trade Organization begins to operate, based in Geneva, Switzerland. Central to the organization's operation is a 1994 amended version of GATT updated to include areas such as intellectual property.

1997
WTO members discuss telecommunications issues at a meeting in February, with 69 governments agreeing to liberalization measures. Later in the year, 40 governments negotiate for tariff-free trade of information technology products and 70 governments finish a financial services deal.

1999
Delegates at a December summit of the WTO in Seattle fail to begin a new series of trade negotiations. Many blame the disintegration of the talks on massive protests outside the conference, as well as strong divisions between industrialized and developing nations. Issues such as agriculture subsidies, the environment, intellectual property, labor standards and the WTO's membership remain unresolved. Thirty-one governments, including the People's Republic of China, continue to wait for consideration for WTO membership.

2000
WTO issues several reports and rules on a number of international disputes involving both developing and industrialized countries, over such issues as patent protection and steel dumping. Steps are also taken toward China's membership, which relies greatly on trade normalization between China and the United States. Five other countries are granted membership, bringing WTO membership to 140.

2001
The Fourth Ministerial Conference is held in Doha, Qatar, where China is admitted as the 143rd member of the WTO, despite controversy surrounding its human rights record. At the conference, the United States, Europe and Japan are pressured to remove domestic protections for their agricultural industries in order to facilitate the economies of many developing countries. Also during the conference, the United States blocks a proposal to help developing countries buy cheap drugs to fight AIDS and other diseases.

2002
The WTO fields complaints from eight members against the United States concerning steel dumping and protections. Verdicts on the steel dispute are issued over 2002 and 2003, but are either ignored or appealed. The European Union, one of the lead members in the complaints against the United States, threatens to increase tariffs on U.S. imports.

2003
Negotiations at the Fifth Ministerial Conference in Cancun, Mexico in September collapsed after delegates from developing countries walked out over disagreements on agricultural reform. During the talks, the G20 developing country alliance, led by Brazil and India, emerged as a major negotiating force.

2004
WTO delegates missed the Jan. 1, 2005 deadline to conclude the Doha Round of negotiations, pushing the date unofficially to the end of 2006.

2005
Trade representatives will meet in Hong Kong in December for the Sixth Ministerial Conference to continue negotiations in the Doha Development Agenda to lower trade barriers in farm and manufacturing goods and services with a focus on developing