The meeting, held at the height of World War I, included representatives of the Allied Powers: United Kingdom, France, Italy, Japan and Russia.
The Allied Powers envisioned isolating them through trade sanctions after the war.
A standing body, the Comité permanent international d'action économique, based in Paris, was established to monitor the implementation of the pact.
The issue of central concern to the United States was that the pact included schemes for the subsidization and the government ownership of manufacturing enterprises and the division of European markets for the pact participants.
[3] The past concern of the US government with the pact remains fossilized in the US Code, in Title 19, Section 1332(c), which gives the United States International Trade Commission the "power to investigate the Paris Economy Pact and similar organizations and arrangements in Europe."