Word: gattes
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...passed giving the President authority to offer concessions, then conduct Government-industry-labor consultations on its negotiating position. Last week, however, Chief U.S. Negotiator William N. Walker finally presented the first major U.S. proposal: all industrial nations should cut tariffs 50% to 60%. With that, the GATT talks in Geneva can finally get down to hard bargaining...
Tackling Barriers. At the same time, delegates must tackle an even tougher issue: nontariff barriers (NTBs), which have taken on increased importance as countries cut duties. NTBs include export subsidies, safety standards, customs procedures, packing and labeling regulations, import quotas and other means by which governments can bar imports. GATT experts have drawn up a list of 850 NTBS to be discussed, but no one expects that the negotiators will be able to eliminate more than...
...recession, meanwhile, is impeding efforts to negotiate still greater freedom of trade. Last week in Geneva, representatives to a GATT (General Agreement on Tariffs and Trade) parley argued over whether tariffs on farm commodities should be handled by an agricultural subcommittee or by a committee with broader authority. U.S. policymakers want to consider them together; in this manner, Americans and Canadians could agree to let in more European industrial exports in exchange for greater freedom of access to the European market for farm goods. For precisely the same reason, Europeans are lobbying against such linked bargaining. Their argument: recent dock...
...ones. Irving S. Shapiro, vice chairman of Du Pont, suggested that the panel should consider sponsoring a U.N.-wide agreement on international investment. Under such a plan, he said, investment funds might be governed in much the same way that the independently organized General Agreement on Tariffs and Trade (GATT) lays out rules for the movement of goods between nations. Emilio G. Collado, executive vice president of Exxon Corp., favored the notion of a proposed voluntary U.N. code of conduct for multinationals, under which, among other things, corporations operating abroad would pledge not to seek political leverage from their home...
...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...