Word: gatt
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Dates: during 1960-1969
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...Villa Le Bocage on the west shore of Lake Geneva, once the home of Russian Author Leo Tolstoy and now headquarters of the General Agreement on Tariffs and Trade, the sponsoring agency of the Kennedy Round. While newsmen waited outside in a downpour (or took shelter in the stable), GATT's British director general, Eric Wyndham White, cajoled and goaded the weary negotiators, personally drafted part of the final package of concessions, in which no nation got all that it wanted. "Even the greater economic powers," said Wyndham White, "can no longer pursue their destinies in disregard of others...
...sigh of relief when President Johnson ordered an immediate reduction of U.S. duties on imported watch movements and most types of sheet glass. Politically and psychologically, the news came at a strategic stage of the talks-the eleventh hour-which have been held since 1963 under the aegis of GATT, the 20-year-old General Agreement on Tariffs and Trade...
...economic problems, Britain announced that it had taken advantage of a 1957 agreement and arranged a postponement of $138.1 million in repayments due the U.S. and $34.3 million due Canada on British reconstruction loans. As if all that were not enough, the General Agreement on Tariffs and Trade (GATT) denounced as "inconsistent" the 15% surtax Britain had placed on imports in an effort to right the out-of-joint balance of trade, and demanded that it be removed. Says Sir Leon Bagrit, the chairman of Elliott-Automation Ltd.: "The British economy is a little like Gulliver in Lilliput, when...
...representatives of the Common Market, the U.S., and ten other nations faced Eric Wyndham White, the British executive secretary for the General Agreement on Tariffs and Trade (GATT). One by one, they presented folders bearing the all-important list of goods they wish excepted from the upcoming series of tariff-cutting talks. It was, said Wyndham White, "a historic moment." Cars & Food. In history's most ambitious effort to expand world trade, the Kennedy Round aims at cutting all tariffs among the 64 members of GATT up to 50% now, and eventually eliminating them entirely. Such cuts would enable...
...list that covered 5% of its imports. Austria, Norway, Denmark, Sweden and Switzerland offered to slice all their tariffs in half if other nations reciprocate. And a delegate from Czechoslovakia showed up as the only Communist to offer a number of concessions that would align his country with GATT to a limited extent, thus demonstrating the shifting economic winds behind the Iron Curtain...