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Concept customs tariffs transparent rather than

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• Concept: Customs tariffs (transparent) rather than nontariff barriers • Operationalization through rounds: - Participant meetings - Consensus • 1979: Tokyo Round • 1986: Start of the Uruguay Round Finished in 1994 in Marrakesh - Main emphasis * More transparent tariff barriers * Less subsidies * Less non-tariff barriers
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Measuring Trade Protection * Emphasis on tariffs - average tariffs * Examples - Nigeria: avg: 23%, agricultural goods: 150% - Malaysia: avg: 8.1%, cars: 145% - E.U.: avg: <5%, fruit juices: 46% - 215% - U.S.: avg: <5%, trucks 25%, peanut butter 132% * Quotas, licenses, standards
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GATT – WTO: The Transition * Host and home country different objectives * Governmental policies - tariffs and non-tariff barriers * Conflicts between countries * Mediating organizations: GATT - meetings of the members - emphasis on tariffs - has been effective BUT - slow and without power in a world full of conflicts THEN, - regional trade agreements and WTO
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WTO: “The Teeth of The Watchdog” WTO 1. implemented the results of the last GATT meeting 2. arbitrates trade disputes 3. monitors the trade policies of its members ("police") 4. members are committed to obey - trade sanctions may be allowed 5. has to comply with imposed time limits
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WTO Update Around 150 members; waiting line: around 30 Over 90% of the world trade Objective: to help trade flow smoothly, fairly and predictably Actions Administering trade agreements Acting as a forum for trade negotiations Settling trade disputes Reviewing national trade policies Assisting developing countries in trade policy issues Voting structure: usually CONSENSUS (1 vote per country) (If not, the majority decides, but those who do not agree, do not have to follow )
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