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Encyclopedia > General Agreement on Tariffs and Trade

The General Agreement on Tariffs and Trade (typically abbreviated GATT) was originally created by the Bretton Woods Conference as part of a larger plan for economic recovery after World War II. The GATT's main objective was the reduction of barriers to international trade. This was achieved through the reduction of tariff barriers, quantitative restrictions and subsidies on trade through a series of agreements. The GATT was an agreement, not an organization. Originally, the GATT was supposed to become a full international organization like the World Bank or IMF called the International Trade Organization. However, the agreement was not ratified, so the GATT remained simply an agreement. The functions of the GATT were taken over by the World Trade Organization which was established during the final round of negotiations in the early 1990s. The Bretton Woods system of international economic management established the rules for commercial and financial relations among the major industrial states. ... Combatants Allied powers: China France Great Britain Soviet Union United States and others Axis powers: Germany Italy Japan and others Commanders Chiang Kai-shek Charles de Gaulle Winston Churchill Joseph Stalin Franklin Roosevelt Adolf Hitler Benito Mussolini Hideki Tōjō Casualties Military dead: 17,000,000 Civilian dead: 33,000... It has been suggested that Commerce be merged into this article or section. ... This article does not cite any references or sources. ... An import quota is a type of protectionist trade restriction that sets an upper limit on the quantity of a good that can be imported into a country in a given period of time. ... A subsidy is generally a monetary grant given by government in support of an activity regarded as being in the public interest. ... For the political science journal, see International Organization. ... The World Bank (the Bank), a part of the World Bank Group (WBG), was formally established on December 27, 1945, following the ratification of the Bretton Woods agreement. ... The flag of the International Monetary Fund (IMF) The International Monetary Fund (IMF) is the international organization entrusted with overseeing the global financial system by monitoring foreign exchange rates and balance of payments, as well as offering technical and financial assistance when asked. ... WTO is the onlt international trade organization. ... The World Trade Organization (WTO), (OMC - Spanish: , French: ), is an international organization designed to supervise and liberalize international trade. ...


The history of the GATT can be divided into three phases: the first, from 1947 until the Torquay Round, largely concerned which commodities would be covered by the agreement and freezing existing tariff levels. A second phase, encompassing three rounds, from 1959 to 1979, focused on reducing tariffs. The third phase, consisting only of the Uruguay Round from 1986 to 1994, extended the agreement fully to new areas such as intellectual property, services, capital, and agriculture. Out of this round the WTO was born. The Uruguay Round was a trade negotiation lasting from September 1986 to April 1994 which transformed the General Agreement on Tariffs and Trade into the World Trade Organization. ... For the 2006 film, see Intellectual Property (film). ... Services are: plural of service Tertiary sector of industry IRC services Web services the name of a first-class cricket team in India This is a disambiguation page — a navigational aid which lists other pages that might otherwise share the same title. ... Not to be confused with capitol. ...

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GATT 1947

The first version of GATT, developed in 1947 during the United Nations Conference on Trade and Employment in Havana, Cuba, is referred to as "GATT 1947". On January 1, 1948 the agreement was signed by 23 countries: Australia, Belgium, Brazil, Burma, Canada, Ceylon, Chile, the Republic of China, Cuba, the Czechoslovak Republic, France, India, Lebanon, Luxembourg, Netherlands, New Zealand, Norway, Pakistan, Southern Rhodesia, Syria, South Africa, the United Kingdom, and the United States. 45,000 tariff concessions were made effecting over $10 billion in trade which comprised 20% of the total global market at the time. Year 1947 (MCMXLVII) was a common year starting on Wednesday (link will display full 1947 calendar) of the Gregorian calendar. ... The foundation of the U.N. The United Nations (UN) is an international organization whose stated aims are to facilitate co-operation in international law, international security, economic development, social progress and human rights issues. ... This article is about the capital of Cuba. ... (Redirected from 1 January) January 1 is the first day of the calendar year in both the Julian and Gregorian calendars. ... Year 1948 (MCMXLVIII) was a leap year starting on Thursday (link will display the 1948 calendar) of the Gregorian calendar. ... For the Chinese civilization, see China. ... Czechoslovakia (Czech: Československo, Slovak: Česko-Slovensko/before 1990 Československo) was a country in Central Europe that existed from 1918 until 1992 (except for the World War II period). ... Southern Rhodesia was the name of the British colony situated immediately to the north of South Africa, known today as Zimbabwe. ...


GATT 1947 in the US

The GATT, as an international agreement, is similar to a treaty. Under United States law it is classified as a congressional-executive agreement. Based on the Reciprocal Trade Agreements Act it allowed the executive branch negotiating power over trade agreements with temporary authority from Congress. At the time it functioned as a provisional, but promising trade system. The agreement is based on the "unconditional most favored nation principle." This means that the conditions applied to the most favored trading nation (i.e. the one with the least restrictions) apply to all trading nations. In the US, there was large opposition against the International Trade Organization (which had been ratified in several countries, including Australia), and thus President Truman never even submitted it to Congress. jhgfjhjhbvchgv This does not cite any references or sources. ... The law of the United States is derived from the common law of England, which was in force at the time of the Revolutionary War. ... A congressional-executive agreement is an agreement with a foreign power that has been approved by U.S. Congress and the United States. ... The Reciprocal Trade Agreements Act - 1934 - Provided for the negotiation of tariff agreements with separate nations, particularly Latin American countries. ... Most favoured nation (or most favored nation, MFN) is a term used in international trade. ...


GATT 1949

The second round took place in 1949 in Annecy, France. The main focus of the talks was more tariff reductions, around 5000 total. City flag Coat of arms Location Coordinates Time Zone CET (GMT +1) Administration Country France Region Rhône-Alpes Department Haute-Savoie (préfecture) Arrondissement Annecy Canton Chief town of 3 cantons Intercommunality Communauté de lagglomération dAnnecy Mayor Jean-Luc Rigaut  (UDF) (since January 15, 2007) Statistics...


GATT 1951

The third round occurred in Torquay, England in 1951. 8,700 tariff concessions were made totaling the remaining amount of tariffs to three-fourths of the tariffs which were in effect in 1948. , Torquay (IPA: ) is a town in Devon, England. ... For other uses, see England (disambiguation). ...


GATT 1955-1956

The fourth round returned to Geneva in 1955 and lasted until May 1956. $2.5 billion in tariffs were eliminated or reduced. Geneva (pronunciation //; French: Genève //, German:   //, Italian: Ginevra //, Romansh: Genevra) is the second most populous city in Switzerland (after Zürich), and is the most populous city of Romandy (the French-speaking part of Switzerland). ...


GATT "Dillon" 1960-1962

The fifth round occurred once more in Geneva and lasted from 1960 to 1962. The talks were named after Under Secretary of State General of the US, Douglas Dillon, who first proposed the talks. Along with reducing over $4.9 billion in tariffs, it also yielded discussion relating to the creation of the European Economic Community (EEC). Geneva (pronunciation //; French: Genève //, German:   //, Italian: Ginevra //, Romansh: Genevra) is the second most populous city in Switzerland (after Zürich), and is the most populous city of Romandy (the French-speaking part of Switzerland). ... Dillons signature, as used on American currency Clarence Douglas Dillon (August 21, 1909 – January 10, 2003) son of Clarence and Ann (Douglass) Dillon, was U.S. Ambassador Extraordinary and Plenipotentiary to France (1953-1957) and 57th secretary of the United States Department of the Treasury (1961-1965). ... The European Community (EC), most important of three European Communities, was originally founded on March 25, 1957 by the signing of the Treaty of Rome under the name of European Economic Community. ... The European Community (EC) was originally founded on March 25, 1957 by the signing of the Treaty of Rome under the name of European Economic Community. ...


GATT "Kennedy" 1964-1967

The sixth round was the last to take place in Geneva from 1964 until 1967 and was named after the late US President Kennedy in his memory. Concessions were made on $40 billion worth of tariffs. Some of the GATT negotiation rules were also more clearly defined. Geneva (pronunciation //; French: Genève //, German:   //, Italian: Ginevra //, Romansh: Genevra) is the second most populous city in Switzerland (after Zürich), and is the most populous city of Romandy (the French-speaking part of Switzerland). ... Federal courts Supreme Court Circuit Courts of Appeal District Courts Elections Presidential elections Midterm elections Political Parties Democratic Republican Third parties State & Local government Governors Legislatures (List) State Courts Local Government Other countries Atlas  US Government Portal      For other uses, see President of the United States (disambiguation). ... JFK redirects here. ...


GATT "Tokyo Round" 1973-1979

The seventh round of GATT took place in Geneva from 1973 until 1979. The talks managed to reduce several trade barriers in addition to $300 billion in tariffs. Negotiations covered a range of topics including government procurement, customs valuation, subsidies, countervailing measures, antidumping, standards and import licensing. Geneva (pronunciation //; French: Genève //, German:   //, Italian: Ginevra //, Romansh: Genevra) is the second most populous city in Switzerland (after Zürich), and is the most populous city of Romandy (the French-speaking part of Switzerland). ... Government procurement, also called public tendering, is the procurement of goods and services on behalf of a public authority, such as a government agency. ... A subsidy is generally a monetary grant given by government in support of an activity regarded as being in the public interest. ... Antidumping is a means to restrict international trade without tariffs. ... The word standard has several meanings: Classically, standard referred to a flag or banner; especially, a national or other ensign carried into battle; thus standard bearer indicates the one who bears, or carries, the standard. ...


Uruguay Round 1986-1993

The Uruguay Round began in 1986. It was the most ambitious round to date, hoping to expand the competence of the GATT to important new areas such as services, capital, intellectual property, and agriculture. The Uruguay Round was a trade negotiation lasting from September 1986 to April 1994 which transformed the General Agreement on Tariffs and Trade into the World Trade Organization. ...


Agriculture was essentially exempted from previous agreements as it was given special status in the areas of import quotas and export subsidies, with only mild caveats. However, by the time of the Uruguay round, many countries considered the exception of agriculture to be sufficiently glaring that they refused to sign a new deal without some movement on agricultural products. These fourteen countries came to be known as the "Cairns Group", and included mostly small and medium sized agricultural exporters such as Australia, Brazil, Canada, Indonesia, and New Zealand. b The Cairns Group is an interest group of 18 agricultural exporting countries, composed of Argentina, Australia , Bolivia, Brazil, Canada, Chile, Colombia, Costa Rica, Guatemala, Indonesia, Malaysia, New Zealand, Pakistan, Paraguay, the Philippines, South Africa, Thailand, and Uruguay. ...


GATT and the World Trade Organization

In 1993 the GATT was updated (GATT 1994) to include new obligations upon its signatories. One of the most significant changes was the creation of the World Trade Organization (WTO). The 75 existing GATT members and the European Communities became the founding members of the WTO on January 1, 1995. The other 52 GATT members rejoined the WTO in the following two years (the last being Congo in 1997). Since the founding of the WTO, 21 new non-GATT members have joined and 28 are currently negotiating membership. Year 1993 (MCMXCIII) was a common year starting on Friday (link will display full 1993 Gregorian calendar). ... The World Trade Organization (WTO), (OMC - Spanish: , French: ), is an international organization designed to supervise and liberalize international trade. ... The European Community (EC), most important of three European Communities, was originally founded on March 25, 1957 by the signing of the Treaty of Rome under the name of European Economic Community. ... is the 1st day of the year in the Gregorian calendar. ... Year 1995 (MCMXCV) was a common year starting on Sunday (link will display full 1995 Gregorian calendar). ... For the band, see 1997 (band). ...


Of the original GATT members, only the SFR Yugoslavia has not rejoined the WTO. Since FR Yugoslavia, (renamed to Serbia and Montenegro and with membership negotiations later split in two), is not recognised as a direct SFRY successor state; therefore, its application is considered a new (non-GATT) one. The contracting parties who founded the WTO ended official agreement of the "GATT 1947" terms on December 31, 1995. Capital Belgrade Language(s) Serbo-Croatian (spoken throuout the territory), Slovenian, Macedonian, Albanian, Hungarian (all official), and languages of other nationalities. ... Capital Belgrade Language(s) Serbian Government Republic President  - 1992 - 1993 Dobrica Ćosić  - 1993 - 1997 Zoran Lilić  - 1997 – 2000 Slobodan MiloÅ¡ević  - 2000 - 2003 Vojislav KoÅ¡tunica Prime Minister  - 1992 - 1993 Milan Panić  - 1993 - 1998 Radoje Kontić  - 1998 - 2000 Momir Bulatović  - 2000 - 2001 Zoran Žižić  - 2001 - 2003 DragiÅ¡a Pe... For other uses of the initials WTO, see WTO (disambiguation). ... December 31 is the 365th day of the year (366th in leap years) in the Gregorian Calendar. ... Year 1995 (MCMXCV) was a common year starting on Sunday (link will display full 1995 Gregorian calendar). ...


Whereas GATT was a set of rules agreed upon by nations, the WTO is an institutional body. The WTO expanded its scope from traded goods to trade within the service sector and intellectual property rights. Although it was designed to serve multilateral agreements, during several rounds of GATT negotiations (particularly the Tokyo Round) plurilateral agreements created selective trading and caused fragmentation among members. WTO arrangements are generally a multilateral agreement settlement mechanism of GATT.[1] Good. ... The tertiary sector of industry, also called the service sector or the service industry, is one of the three main industrial categories of a developed economy, the others being the secondary industry (manufacturing and primary goods production such as agriculture), and primary industry (extraction such as mining and fishing). ... In law, particularly in common law jurisdictions, intellectual property is a form of legal entitlement which allows its holder to control the use of certain intangible ideas and expressions. ... For other uses, see Tokyo (disambiguation). ...


Rounds of GATT trade negotiations

GATT signatories occasionally negotiated new trade agreements that all countries would enter into. Each set of agreements was called a round. In general, each agreement bound members to reduce certain tariffs. Usually this would include many special-case treatments of individual products, with exceptions or modifications for each country. This article does not cite any references or sources. ...

  1. Havana Round (1947): 23 countries. GATT enters into force.
  2. Annecy Round (1949): 13 countries.
  3. Torquay Round (1950): 34 countries.
  4. Geneva Fourth Round (1956): 22 countries. Tariff reductions. Strategy set for future GATT policy toward developing countries, improving their positions as treaty participants.
  5. Dillon Round (1960-1961): 45 countries. Tariff reductions. Named after C. Douglas Dillon, then U.S. Undersecretary of State.
  6. Kennedy Round (1962-1967): 48 countries. Tariff reductions. This was an across-the-board reduction rather than a product-by-product specification, for the first time. Anti-dumping agreement (which, in the United States, was rejected by Congress).
  7. Tokyo Round (1973-1979): 99 countries. Reduced non-tariff trade barriers. Also reduced tariffs on manufactured goods. Improvement and extension of GATT system.
  8. Uruguay Round (1986-94): 125 countries. Created the World Trade Organization to replace the GATT treaty. Reduced tariffs and export subsidies, reduced other import limits and quotas over the next 20 years, agreement to enforce patents, trademarks, and copyrights (TRIPS), extending international trade law to the service sector (GATS) and open up foreign investment. It also made major changes in the dispute settlement mechanism of GATT.
  9. Doha Round: see WTO.

Source: Jackson, John H. The World Trading System Second Edition, page 74 This article is about the capital of Cuba. ... Year 1947 (MCMXLVII) was a common year starting on Wednesday (link will display full 1947 calendar) of the Gregorian calendar. ... City flag Coat of arms Location Coordinates Time Zone CET (GMT +1) Administration Country France Region Rhône-Alpes Department Haute-Savoie (préfecture) Arrondissement Annecy Canton Chief town of 3 cantons Intercommunality Communauté de lagglomération dAnnecy Mayor Jean-Luc Rigaut  (UDF) (since January 15, 2007) Statistics... Year 1949 (MCMXLIX) was a common year starting on Saturday (link will display the full calendar) of the Gregorian calendar. ... , Torquay (IPA: ) is a town in Devon, England. ... Year 1950 (MCML) was a common year starting on Sunday (link will display the full calendar) of the Gregorian calendar. ... Year 1956 (MCMLVI) was a leap year starting on Sunday (link will display full calendar) of the Gregorian calendar. ... Dillons signature, as used on American currency Clarence Douglas Dillon (August 21, 1909 – January 10, 2003) son of Clarence and Ann (Douglass) Dillon, was U.S. Ambassador Extraordinary and Plenipotentiary to France (1953-1957) and 57th secretary of the United States Department of the Treasury (1961-1965). ... JFK redirects here. ... In economics, dumping can refer to any kind of predatory pricing, and is by most definitions a form of price discrimination. ... Congress in Joint Session. ... For other uses, see Tokyo (disambiguation). ... The Uruguay Round was a trade negotiation lasting from September 1986 to April 1994 which transformed the General Agreement on Tariffs and Trade into the World Trade Organization. ... The World Trade Organization (WTO), (OMC - Spanish: , French: ), is an international organization designed to supervise and liberalize international trade. ... Export Subsidy is a government policy to encourage export of goods and discourage sale of goods on the domestic market through low-cost loans or tax relief for exporters, or government financed international advertising or R&D. The WTO prohibits most subsidies directly linked to the volume of exports. ... A quota is a prescribed number or share of something. ... For other uses, see Patent (disambiguation). ... “(TM)” redirects here. ... Not to be confused with copywriting. ... The WTO Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPs) is an international agreement on the subject of intellectual property. It covers copyright, patents, trademarks, trade secrets, industrial designs, geographical indicia and integrated circuit layouts. ... The General Agreement on Trade in Services (GATS) is a treaty of the World Trade Organization (WTO) that entered into force in January 1995 as a result of the Uruguay Round negotiations to provide for the extension of the multilateral trading system to services. ... The Doha Development Round of World Trade Organization negotiations aims to lower trade barriers around the world, permitting free trade between countries of varying prosperity. ... For other uses of the initials WTO, see WTO (disambiguation). ...


See also

International trade - an overview Absolute advantage Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPs) APEC Autarky Balance of trade barter Bilateral Investment Treaty (BIT) Bimetallism branch plant Bretton Woods Conference Bretton Woods system British timber trade Cash crop Comparative advantage Continental trading bloc Cost, insurance and freight Currency... Wikinews has related news: HUD hoaxer calls attention to lack of affordable housing The Yes Men are a group of beloved culture jamming activists who practice what they call identity correction by pretending to be powerful people or spokespersons for prominent organizations. ... WTO is the onlt international trade organization. ... The World Trade Organization (WTO), (OMC - Spanish: , French: ), is an international organization designed to supervise and liberalize international trade. ...

References

External links


  Results from FactBites:
 
General Agreement on Tariffs and Trade - Wikipedia, the free encyclopedia (461 words)
GATT was created by the Bretton Woods meetings that took place in Bretton Woods, New Hampshire, in 1944, setting out a plan for economic recovery after World War II, by encouraging reduction in tariffs and other international trade barriers.
One of the most significant changes made in GATT (or "GATT 1994") was the creation of the World Trade Organization (WTO).
In general, each of these agreements bound the members to reduce certain tariffs, with many special-case treatments of individual products, and in many cases with exceptions and modifications for each country.
  More results at FactBites »

 
 

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