GATT_and_WTO_paper_Graded 100

GATT_and_WTO_paper_Graded 100 - Running head: GATT AND WTO...

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Running head: GATT AND WTO PAPER 1 GATT and WTO Paper Shelly Hall BUS/430 February 5, 2011 Thomas Kholer
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GATT AND WTO PAPER 2 GATT and WTO Paper The following paragraphs will summarize regulating imports, non-tariff barriers to trade and dispute settlements through GATT and the WTO. There will also be explanation of liability for international carriers of air, sea, and ocean. GATT The General Agreement on Tariffs and Trade, abbreviated and further referenced in this paper as GATT, came in to effect in 1947. According to Schaffer, “had the purpose of promoting and expanding trade through multilateral trade negotiations between member nations.” (Schaffer, pg 275, para 2) Considered “…the most important trade agreement of the twentieth century, it has provided a global framework for reducing tariffs and non-tariff barriers to trade.” (Schaffer, pg 275, para 2) Although not approved by congress until 1994, the original agreement of 1947 was adopted by the president by proclamation. (Schaffer, 2009) Importance of regulating imports There are many economic and political reasons that nations impose imports and trade barriers of goods and services such as taxing the imports, implementing foreign policy, plant and animal protection, and local cultural, and religious protections, just to name a few (Schaffer, 2009). According to Schaffer, “Non-tariff barriers to trade are broadly defined as any impediment to trade other than tariffs.” (Schaffer, pg 290, para 3)
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GATT AND WTO PAPER 3 Non-Tariff barriers According to the OECD website, “a Non-tariff barrier refers to all barriers to trade that are not tariffs. Examples of these include countervailing and anti-dumping duties; "voluntary" export restraints, subsidies which sustain in operation loss making enterprises, technical barriers
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This note was uploaded on 09/16/2011 for the course ACCOUNTING 421 taught by Professor Beverlyhalfacre during the Spring '11 term at University of Phoenix.

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GATT_and_WTO_paper_Graded 100 - Running head: GATT AND WTO...

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