Word: gatt
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Dates: during 1970-1979
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...addition to ILO and ITU, Geneva is the home of such prestigious U.N. agencies as the World Health Organization (WHO), World Meteorological Organization (WMO), and the General Agreement on Tariffs and Trade (GATT). Last week the branch of the U.N. Children's Fund (UNICEF), Paris-based since 1946, disclosed plans to move its headquarters to Geneva by next summer. Soon to come is a helter-skelter maze of smaller programs, ranging from the Office of the High Commissioner for Refugees (UNHCR), to the International Bureau for Declaration of Death, which identifies victims of civil wars and natural disasters...
...agencies can of course point to a considerable record of accomplishment. GATT ran the Kennedy round of trade talks. WHO operates on an unparalleled scale in virtually all areas of health care. UNICEF provides broad assistance to developing nations, offering health and education services and job training for mothers and for children up to the age of 15. As a whole, the working bodies remain an invaluable, irreplaceable collection point for information flowing between East and West and from the developed to the developing nations...
...Agreement on Tariffs and Trade, meeting in Geneva last week, indicated the danger. The report warned that if the U.S. import surcharge is still in effect by Jan. 1 and prevents the U.S. from carrying out the final phase of tariff cuts agreed to in the Kennedy Round negotiations, GATT nations would be compelled to retaliate -in short, it predicted a trade...
...surtax breaks both the letter and the spirit of the international General Agreement on Tariffs and Trade. As a result, the U.S. now finds itself defending actions of a sort that it has criticized others for in the past. The 55-member GATT council is scheduled to meet in an emergency session this week to deal with the potentially explosive situation...
...justify the surtax, the U.S. has cited GATT Article 12, which allows temporary restrictions in case of severe balance of payments deficits. But the provision permits only quotas, not surtaxes. Thus, the U.S. is relying largely on a precedent set by Britain in 1964 when it posted a 15% import surtax (later reduced to 10%) and kept it for two years...