This preview shows pages 1–3. Sign up to view the full content.
This preview has intentionally blurred sections. Sign up to view the full version.View Full Document
Unformatted text preview: against other members of the WTO This is a principle that bans discrimination against other members of the WTO with two exceptions Lesson 41 6 Preferential trading arrangements Preferential treatment of developing countries Generalized System of Preferences (GSP) Tariffs reflecting U.S. participation in a PTA or GSP are specified in second sub-column of column 1 3 Lesson 41 7 Column 2 tariffs are essentially the Smoot-Hawley tariffs Applied to imports from countries that are not members of WTO and for whom the U.S. declines to offer MFN treatment Meaning of abbreviations found in General Notes, prior to section I Lesson 41 8 Tariffs may be specific, ad valorem, or a combination of the two A combination of specific and ad-valorem (e.g., footwear with outer soles and uppers of rubber or plastics: other: for men: valued over $3 but not over $6.50 per pair is 76 per pair plus 32%!)...
View Full Document
- Summer '08