PUBPOL 201 Chapter Notes - Chapter 1: Trade Adjustment Assistance, Voluntary Export Restraints, Uruguay Round
29 Sep 2017
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Restraints online: explain the meaning and significance of: mfn, gatt, taa, gsp, ver, fast track, Us reduction in tariffs generally applied to the mfn. Tariff preferences granted to one country were automatically granted to imports into the united states from all other countries. Free riding by other countries was minimized by striking deals only in commodities in which the negotiating country was a principal supplier. treating other people equally under the wto agreements, countries cannot normally discriminate between their trading partners. Grant someone a special favor (such as a lower customs duty rate for one of their products) and you have to do the same for all other wto members. initial set of multilateral trade rules. Negotiated in 1947 with the united states and 22 other founding contracting parties. Remain the primary set of rules and organizational structure for nearly 50 years until the negotiation of the. Uruguay round agreements and establishment of wto in 1995.
