Word: gattes
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...General Agreements on Tariffs and Trade, which have been stalled in Geneva for months and face a Dec. 15 deadline for completion. Indeed, the timing of the Seattle meeting was calculated in part to send a message to Europe, and especially France, which has balked at concluding the GATT round because it demands heavy cuts in farm subsidies. "If our efforts to secure global trade agreements falter, then APEC still offers us a way to expand markets within this, the fastest-growing region of the globe," Clinton said pointedly...
...more concrete effort to nudge the GATT round along, APEC members of GATT agreed to reduce or eliminate tariffs on a wide range of products, including electronics, nonferrous metals, paper, wood, oilseeds and scientific equipment -- and to make those cuts available to all GATT members. Trade in these goods by APEC members of GATT amounts to some $250 billion a year...
...lower tariffs protecting fledgling industries. If Clinton shows up in Seattle without a win on NAFTA, Asian nations will also be under less pressure to deal; one reason for them even to consider a Pacific Rim trade group is to ensure themselves a defensive base in the event that GATT should fail or NAFTA take a protectionist turn. Thus the White House has been playing down this week's gathering as merely a gesture in favor of more regional cooperation. "The meeting is the message," says Robert Rubin, director of the National Economic Council. In trade matters, it seems, complexity...
...crisis in the 1980s. Since 1986 and especially when President Carlos Salinas de Gortari took office at the end of 1988, Mexico has implemented drastic and sometimes painful economic reforms: Since 1988, Mexico has cut the maximum tariff rate from 100 percent to 20 percent. It has exceeded its GATT commitment on tariff reduction, cutting the average trade-weighted tariff from over 25 percent in the mid-1980s to 4 percent...
...promote freer trade among the more than 100 members of the General Agreement on Tariffs and Trade could die. That would abort an expansion of world trade that many nations are counting on to help end the recession afflicting the industrial world. The U.S. would be especially hurt: the GATT agreement contains protections for "intellectual property" (patents, copyrights) that American exporters sorely need but do not now have...