General Agreement On Trade And Tariffs Pdf

The sixth round of GATT multilateral trade negotiations, which ran from 1964 to 1967. It is named after U.S. President John F. Kennedy, in recognition of his support for the reformulation of the U.S. trade agenda, which led to the Trade Expansion Act of 1962. This law gave the president the broadest bargaining power ever. Most nations have applied the most-favoured-nation principle when setting tariffs, which has largely replaced quotas. Tariffs (which are preferable to quotas but still a barrier to trade) have in turn been steadily reduced in successive rounds of negotiations. The General Agreement on Tariffs and Trade is a watchword for a series of global trade negotiations that took place in nine rounds in total between 1947 and 1995. GATT was first conceived after the Allied victory in World War II at the United Nations Conference on Trade and Employment (UNCTAD) in 1947, where the International Trade Organization (ITO) was one of the ideas proposed.

It was hoped that the ITO would be managed alongside the World Bank and the International Monetary Fund (IMF). More than 50 nations negotiated and organized their founding charter, but after the U.S. withdrew, those negotiations collapsed. [8] Reduce tariffs and new regimes to control the proliferation of non-tariff barriers and voluntary export restrictions. 102 countries participated in the round. Trade concessions worth $19 billion have been made. The third round was held in Torquay, England, in 1951. [13] [14] Thirty-eight countries participated in the round. A total of 8,700 tariff concessions were collected on 3/4 of the tariffs that came into force in 1948. The simultaneous rejection by the United States of the Havana Charter meant the creation of gatt as an organ of the state of the world. [15] The average tariffs of the main GATT participants were about 22% in 1947.

[4] Following the first rounds of negotiations, tariffs within the GATT core of the United States, the United Kingdom, Canada and Australia were reduced compared to other contracting parties and non-GATT participants. [4] In the Kennedy Round (1962-67), the average level of tariffs of GATT participants was about 15%. [4] After the Uruguay Round, tariffs were below 5%. [4] For the most part, agriculture was excluded from previous agreements, as it was granted special status in the areas of import quotas and export subsidies, with slight reservations. However, at the time of the Uruguay Round, many countries felt that the exception for agriculture was so blatant that they refused to sign a new agreement without agricultural products without movement. These fourteen countries were known as the “Cairns Group” and consisted mainly of small and medium-medium-largest agricultural exporters such as Australia, Brazil, Canada, Indonesia and New Zealand. In the end, the result was an average tariff reduction of 35%, with the exception of textiles, chemicals, steel and other sensitive products; plus a reduction in tariffs on agricultural and food products from 15 to 18%. . . .

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