Word: gattes
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...Villa Le Bocage on the west shore of Lake Geneva, once the home of Russian Author Leo Tolstoy and now headquarters of the General Agreement on Tariffs and Trade, the sponsoring agency of the Kennedy Round. While newsmen waited outside in a downpour (or took shelter in the stable), GATT's British director general, Eric Wyndham White, cajoled and goaded the weary negotiators, personally drafted part of the final package of concessions, in which no nation got all that it wanted. "Even the greater economic powers," said Wyndham White, "can no longer pursue their destinies in disregard of others...
Secret Details. Negotiators reached an antidumping agreement to prevent international sales of goods below cost, but its details (like those on most specific tariff cuts) were temporarily kept secret. However disturbing-and confusing-that secrecy is to businessmen, the GATT delegates consider it essential to enable them to codify the Byzantine complexities of their agreements in time for governments to sign them by June 30, when President Johnson's authority to cut tariffs expires...
...sigh of relief when President Johnson ordered an immediate reduction of U.S. duties on imported watch movements and most types of sheet glass. Politically and psychologically, the news came at a strategic stage of the talks-the eleventh hour-which have been held since 1963 under the aegis of GATT, the 20-year-old General Agreement on Tariffs and Trade...
...economic problems, Britain announced that it had taken advantage of a 1957 agreement and arranged a postponement of $138.1 million in repayments due the U.S. and $34.3 million due Canada on British reconstruction loans. As if all that were not enough, the General Agreement on Tariffs and Trade (GATT) denounced as "inconsistent" the 15% surtax Britain had placed on imports in an effort to right the out-of-joint balance of trade, and demanded that it be removed. Says Sir Leon Bagrit, the chairman of Elliott-Automation Ltd.: "The British economy is a little like Gulliver in Lilliput, when...
...list that covered 5% of its imports. Austria, Norway, Denmark, Sweden and Switzerland offered to slice all their tariffs in half if other nations reciprocate. And a delegate from Czechoslovakia showed up as the only Communist to offer a number of concessions that would align his country with GATT to a limited extent, thus demonstrating the shifting economic winds behind the Iron Curtain...