Word: gatt
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Dates: during 1960-1969
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...sharply lower tariffs on whole families of prod ucts instead of negotiating by item. As a result, the Western industrial powers planned the impending round of tariff negotiations, and whatever cuts they agree upon will be extended to all 58 members of the General Agreement on Tariffs and Trade (GATT...
...Such nontariff trade restric tions as import quotas, indirect taxes and antidumping laws, which GATT members are also committed to consider, have little chance of being negotiated amid the complexities and confusion of the tariff debate...
...retaliating, the U.S. invoked its right under the General Agreement on Tariffs and Trade (GATT), which provides that an offended nation may raise tariffs by an amount equal to any losses resulting from discriminating tariffs. The U.S. listed for retaliation 19 major items representing $111,500,000 in annual Common Market exports to the U.S., but it will winnow the list down to cover only $46 million-the amount by which it claims it has been damaged by the poultry tariffs...
...deadline set by the U.S. The irony is that the outburst of transatlantic recriminations has come just when U.S. and Common Market negotiators had begun to make some progress at working out new and sweeping tariff cuts among 50 nations, scheduled to be made at the next meeting of GATT...
...French hope to win a greater share of the lucrative German chicken market for their own poultry farmers. The U.S. has asked the Common Market to start negotiations later this month aimed at setting aside the increase. If the negotiations fail, the U.S. is legally entitled under GATT to retaliate against Common Market imports-a step that would give it little satisfaction and might permanently cancel the opportunity for many American chickens to take a trip to Europe...