Word: gattes
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...Uruguay Round is especially interesting to American business because it tackles whole new areas of commerce, perhaps one-third of the world economy, previously left outside GATT controls: services like banking, insurance and telecommunications; intellectual property such as patents, software and video recordings; and agriculture. These are all areas where U.S. firms could strenuously compete if foreign governments treated them no worse than homegrown firms. For example...
...getting from here to GATT will require a slog through the farmyards of the world. "The key to the whole GATT equation is agriculture," says a senior U.S. official. "For the Latin Americans and the Asians to make commitments in services and intellectual property, they have to get access to agricultural markets...
...products a fair shake. The E.C. doled out $45 billion in subsidies last year, $4,100 a farmer, even though farming generated a tiny 3.5% of European output. Despite seeking their own, albeit smaller, subsidies from Washington, American farmers resent the E.C.'s largesse and threaten to fight any GATT treaty that fails to curb...
...imposed on nonemergency repairs of U.S.-owned ships in foreign yards. Another boost to maritime interests is a law that prohibits foreign- built vessels from carrying goods from one American port to another. In Geneva, U.S. negotiators say they want to exempt shipping altogether from the new GATT regime. Extensive textile quotas, which the Uruguay Round proposes to bring under GATT for the first time, raise the bills of every American family almost $500 a year, according to a 1987 study. But the beneficiaries of such protection -- politically well organized textile manufacturers and unions -- can exert political leverage, while those...
...people who will gain jobs in computers and services because of GATT don't know who they are yet," says a congressional aide. "The people who will lose their jobs in textiles know damn well who they are." The Bush Administration welcomes the Uruguay Round precisely because it will strengthen Washington's hand in just saying no to inefficient firms looking for a bailout. "This is a form of deregulation at home," observes a senior official...