The General Agreement On Trade And Tariffs (Gatt) Later Became Known As The

18 Dez The General Agreement On Trade And Tariffs (Gatt) Later Became Known As The

THE GATT and its successor, the WTO, have succeeded in reducing tariffs. Average tariff levels for large GATT participants were about 22% in 1947, but were 5% after the Uruguay Round of 1999. [4] Experts attribute some of these tariff changes to the GATT and the WTO. [5] [6] [7] But the size of a business cycle can be both a strength and a weakness. The question that arises from time to time is: would it not be easier to focus the negotiations on one sector? Recent history is inconclusive. In some phases, the Uruguay round seemed so tedious that it seemed impossible for all participants to reach agreement on all issues. Then the round ended successfully in 1993/94. Two years followed, during which it was not possible to reach an agreement on maritime transport in the various sectors. Developing countries and other less powerful participants are more likely to influence the multilateral system in a trade cycle than in bilateral relations with major trade nations. Did this mean that business cycles were the only way to succeed? No no. In 1997, sectoral discussions on basic telecommunications, computer equipment and financial services were completed. The Uruguay Round, held from 1986 to 1993 and culminating in the creation of the World Trade Organization (WTO), also broadened the topics for discussion, including intellectual property.

At the end of the Uruguay round, members signed the agreement on aspects of intellectual property rights that affect trade, commonly known as “TRIPS”. TRIPS has forced its members to harmonize some important elements of their patent, copyright and trademark laws. In the United States, Congress had to amend patent laws (which apply only to applications that came into effect on June 5, 1995), the most important of which were: (a) the calculation of patent duration; and b) the publication of pending patent applications. The General Agreement on Tariffs and Trade (GATT) is a legal agreement between many countries whose overall objective was to promote international trade by removing or removing trade barriers, such as tariffs or quotas. According to its preamble, its objective was to “substantially reduce tariffs and other trade barriers and eliminate mutually beneficial and reciprocal preferences.” The GATT came into force on January 1, 1948. From the beginning, it was refined, which eventually led to the creation, on 1 January 1995, of the World Trade Organization (WTO), which absorbed and extended it. To date, 125 nations signed their agreements, which covered about 90% of world trade. , 1947 in Geneva, Switzerland. The GATT aimed to “substantially reduce tariffs and other trade barriers and eliminate preferences on a reciprocal and mutually beneficial basis” in order to stimulate economic recovery after the Second World War. Derogations under Article XX of the GATT are permitted as long as the resulting measures are not unjustified or arbitrary. This implies that the country has no other means of pursuing objectives that would avoid restrictive trade practices.