POLI SCI 240 Lecture Notes - Lecture 17: Uruguay Round, Kennedy Round, Regional Integration
29 Mar 2018
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Document Summary
Article 1 = nondiscrimination most favored nation clause (1) open market (2) fair opportunity: reduction of trade barriers, unconditional reciprocity. Concessions granted by the other should be reciprocated. Tacot barriers circumvent the spirit of the agreement. Article 19 = safeguards clause (1) if someone defects, under this agreement, of it threatens domestic producers, i can suspend the obligation of the agreement (2) essentially a jail free card. Regional integration is not contrary to multilateralism as long as third parties are not harmed. Conflicts with eu with accession of new members. 35% across the board reduction on approximately 60,000 items. Weakness: it did not address non-tariff barriers. Overall tariffs were lowered by about 27% But attempt to categorize non-tariff barriers failed. Non tariff barriers inherently difficult to categorize. Increasing number (from 23 in 1948 to 128 by 1994) Many new nations, less developed countries, with different demands since 1948. Gatt failed to provide agreements on agriculture.
