--%>
Assignment Help - homework help

What are the major provisions of GATT

What are the major provisions of GATT

E

Expert

Verified

The major provisions of GATT include:

a. Tariff reductions will average 33 percent.

b. Services are included in the treaty’s trade rules.

c. Quotas on textiles and apparel imports will be replaced by tariffs and these, too, will be eliminated gradually.

d. Agriculture will also be affected with members agreeing to cut subsidies to agriculture and quotas on agricultural imports.

e. Intellectual property will be protected by international patent, trademark, and copyright agreements.

f. When fully implemented, experts estimate the GATT agreement will boost world GDP by $6 trillion or 8 percent, and U.S. consumers will save about $30 billion each year.

   Related Questions in Business Economics

  • Q : Expiation of Economists for Economic

    Please help me to solve the problem of economic that is given below: Economists describe economic costs as like: (w) money outlays. (x) accounting cost. (y) opportunity cost. (z) v

    		•
  • Q : Innate psychological attributes of

    As illustrated by Adam Smith that there are two innate psychological attributes of humans. One is which people have a powerful wish to better their individual circumstances. The other is as human beings so we are: (1) more interested

    		•
  • Q : Argument by Adam Smith for a true

    Within the Wealth of Nations, argument by Adam Smith such that a nation’s true wealth is its capability to: (1) obtain stocks of financial capital. (2) inspire its people’s courage and diligence. (c) give

    		•
  • Q : Common factors influencing capital

    Write down the common factors influencing capital structure?

    		•
  • Q : The Federal corporate income tax Use

    Use the circular flow model to confirm this assertion for a 2% reduction in the Federal corporate income tax.

    		•
  • Q : Explain about Market Structures briefly

    Explain about Market Structures briefly.

    		•
  • Q : International trade to the U.S. economy

    How important is international trade to the U.S. economy?  In terms of volume, does the United States trade more with industrially advanced economies or with developing economies? What country is the United States’ most important trading partner, quantitati

    		•
  • Q : Market structure and pricing decision

    Just need help to see if I am in the right direction if there any think wrong need help with it.

    		•
  • Q : Micro economics and macro economics

    Micro economics and macro economics:Economic theory can be widely divided into micro and macroeconomics. The word micro means small and macro means big.In microeconomics, we deal

    		•
  • Q : Scientific method how does it relate to

    What is the scientific method and how does it relate to theoretical economics?  What is the difference between a hypothesis and an economic law or principle?

    		•