Word: gattes
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...will the meeting produce? With so many conflicting interests, proposals and threats, perhaps the only certainty is that the splits among its sponsors will deepen. But the have-nots do seem fairly well united behind a Soviet proposal to undercut the 60-nation General Agreement on Tariffs and Trade (GATT). The Communist nations are blackballed from GATT, and the underdeveloped view it as the rich man's guarantor of the unsubsidized order of world trade. GATT has enough Western support to survive; but there will probably grow up alongside it some broader if looser trade machinery that will operate...
...sharply lower tariffs on whole families of prod ucts instead of negotiating by item. As a result, the Western industrial powers planned the impending round of tariff negotiations, and whatever cuts they agree upon will be extended to all 58 members of the General Agreement on Tariffs and Trade (GATT...
...Such nontariff trade restric tions as import quotas, indirect taxes and antidumping laws, which GATT members are also committed to consider, have little chance of being negotiated amid the complexities and confusion of the tariff debate...
...retaliating, the U.S. invoked its right under the General Agreement on Tariffs and Trade (GATT), which provides that an offended nation may raise tariffs by an amount equal to any losses resulting from discriminating tariffs. The U.S. listed for retaliation 19 major items representing $111,500,000 in annual Common Market exports to the U.S., but it will winnow the list down to cover only $46 million-the amount by which it claims it has been damaged by the poultry tariffs...
...deadline set by the U.S. The irony is that the outburst of transatlantic recriminations has come just when U.S. and Common Market negotiators had begun to make some progress at working out new and sweeping tariff cuts among 50 nations, scheduled to be made at the next meeting of GATT...