GEB 3373 Lecture Notes - Lecture 43: Most Favoured Nation, World Trade Organization, National Treatment

• School: University of Florida
• Department: Business Administration - General
• Course: GEB 3373
• Professor: Phalin Amanda

Document Summary

The general agreement on tariffs & trade & the wto. Goal was to promote free, competitive international trade to benefit efficient producers. Sponsored multilateral (cid:374)egotiatio(cid:374)s (cid:894)aka (cid:862)rou(cid:374)ds(cid:863)(cid:895) to de(cid:272)rease tariffs, quotas, and other ntbs. > generally named after location where each round began. > tariff reductions from rounds -> dramatic growth in international trade since ww2. > any preferential treatment granted to one country must be extended to all countries. Changed to ntr (normal trade relations) under president clinton. Exceptions: generalized system of preferences (gsp): allowed countries to decrease tariffs for developing nations w/o doing so for more developed countries. > during cold war, allowed u. s. to reward pro-u. s. nations: trade agreements promoting economic integration, e. g. , eu and nafta. Three main goals: promote trade flows by encouraging nations to adopt nondiscriminatory, predictable trade policies, decrease remaining trade barriers via multilateral negotiations, establish impartial procedures for resolving trade disputes among members. General agreement on trade in services (gats)