Word: gatt
(lookup in dictionary)
(lookup stats)
Dates: during 1990-1999
Sort By: most recent first
(reverse)
Both the House and Senate voted -- with large bipartisan majorities -- to enact historically wide-ranging changes to the 124-nation General Agreement on Tariffs and Trade, or GATT. Among other things, the new measure lowers tariffs by a third, removes trade quotas and, for the first time, protects intellectual property...
...GATT Passes...
President Clinton signed the historic General Agreement on Trade and Tariffs today, launching U.S. entry into a 123-nation trade accord to slash import tariffs here and abroad. But he did so over vehement protests from critics who say GATT will undermine American labor by ending penalties against the products of low-wage workers from other countries. "Hey, Bill! You're selling out!" a man with a megaphone outside the Organization of American States shouted as Clinton arrived for the ceremony. Clinton's reply to the public: "We must never run away from the world." The treaty cuts global tariffs...
...Make a GATT Deal...
...GATT world-trade pact got a big boost when Republican Senate leader Bob Dole and the White House came to terms on changes to the treaty. To garner Dole's support and assuage his concerns about American sovereignty under the pact, the Administration agreed to create a review panel that would monitor the fairness of trade-dispute decisions, which will be adjudicated by a newly created body called the World Trade Organization. If the American review panel feels the U.S. is regularly getting a raw deal, it could formally recommend withdrawal from the treaty. The efforts of Dole and some...