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3 pages in length. The General Agreement on Tariffs and Trade (GATT), which was first signed in 1947, was designed to "provide an international forum in order to encourage free trade between member states by regulating and reducing tariffs on traded goods and by providing a common mechanism for resolving trade disputes. GATT membership now includes more than one hundred ten countries" (Anonymous, 1999). With membership numbering over one hundred countries, the impact GATT has had upon its original aims has been a mixture of success with challenge. Bibliography lists 5 sources.
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File: LM1_TLCGATT.rtf
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between member states by regulating and reducing tariffs on traded goods and by providing a common mechanism for resolving trade disputes. GATT membership now includes more than one hundred
ten countries" (Anonymous #2, 1999). With membership numbering over one hundred countries, the impact GATT has had upon its original aims has been a mixture of success with challenge.
GATT Uruguay round of the World Trade Organization (WTO) implemented a fundamental change from non-tariff to tariff-only protection for agriculture. It included substantial cuts in border protection, as
well as domestic support and export subsidies; a bound one third reduction in most tariffs on industrial goods, with much deeper cuts in some sectors; a "framework agreement on rules
for all trade in services" (Anonymous, no date); international trademark protection, patents, copyright and better dispute-settlement operations; ways in which to limit undesirable impacts of trade and "provide more-effective international
rules on subsidies, anti dumping and countervailing rules, safeguards and standards; and the creation of a World Trade Organisation (WTO) to integrate the outcome of negotiations in all areas of
the Round, including improved dispute settlement procedures" (Anonymous, no date). The European Union (EU), which was initially established as a customs union that
possessed free trade among the Member States, has also been instrumental in levying a common import tariff for commodities that originated from such non-EU countries as the United States.
"Under agreements reached between the EU member states and the members of the European Free Trade Association (EFTA), duty-free trade for industrial products has been achieved between these countries" (Anonymous,
1999). Value-added taxes (VAT) and excise taxes are assessed once the commodities reach their destination, a particular point of "harmonization" (Anonymous, 1999) between and among Member States.
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