The Evolution of the Trade Regime offers a comprehensive political-economic history of the development of the world's multilateral trade institutions, the General Agreement on Tariffs and Trade (GATT) and its successor, the World Trade Organization (WTO). While other books confine themselves to describing contemporary GATT/WTO legal rules or analyzing their economic logic, this is the first to explain the logic and development behind these rules. The book begins by examining the institutions' rules, principles, practices, and norms from their genesis in the early postwar period to the present. It evaluates the extent to which changes in these institutional attributes have helped maintain or rebuild domestic constituencies for open markets. The book considers these questions by looking at the political, legal, and economic foundations of the trade regime from many angles. The authors conclude that throughout most of GATT/WTO history, power politics fundamentally shaped the creation and evolution of the GATT/WTO system. Yet in recent years, many aspects of the trade regime have failed to keep pace with shifts in underlying material interests and ideas, and the challenges presented by expanding membership and preferential trade agreements.
Transatlantic Food and Agricultural Trade Policy traces the past fifty years of transatlantic trade relations in the area of food and agricultural policy, from early skirmishes over chicken exports to ongoing conflicts over biotech foods and hormone us
The aim of the book is to provide interested readers with access to a number of articles that have been written over the years on the subject of the linkages between domestic farm policies (particularly in developed countries) and world markets for agricultural goods. The scope of the book includes the measurement of protection and the estimation of transfers to agricultural producers, the effect of these policies on consumers and the consequent impact on international trade. A major theme is that the monitoring of the trade and transfer implications of farm policies is an essential first step to addressing the need for internationally agreed disciplines on their nature and extent. The topic of trade impacts of farm policies has become important in two different market situations. When agricultural commodity prices are depressed, attention turns to the activities of countries (particularly developed countries) that support the income of their own farmers but at the expense of farmers in other countries. When prices rise, as they have done in the last five years, the question is reversed: what is the impact of the farm and food policies that restrict exports to keep domestic prices low on food security in other countries? Thus, the narrative of the monitoring of farm policies by international organizations such as the OECD and the disciplining of such policies under the rules of the WTO is as relevant today as in the 1970s when the first efforts in this direction were made.
The Uruguay Round trade negotiations marked a historic turning point in the reform of agricultural trade. The Uruguay Round Agreement on Agriculture (URAA) replaced nontariff barriers with bound tariffs, curbed export subsidies, and codified domestic agricultural programs. Unfortunately, the URAA bound many of the tariffs that replaced nontariff barriers too high, it legitimized export subsidies, and it left the domestic farm policies of the major industrial countries largely untouched. Fortunately, regional trade institutions have also begun to grapple with agricultural trade liberalization. Agriculture was featured in the Mercosur agreement, in recent agreements between the European Union and the countries of Central and Eastern Europe, and in the North American Free Trade Area (NAFTA). Plans for broad supraregional trade structures, such as the Asia Pacific Economic Cooperation (APEC) forum and the Free Trade Area of the Americas (FTAA), have also dealt with the inclusion of agricultural trade. Meanwhile, in developing and middle-income countries, unilateral agricultural policy reforms have been part of recent economic policy changes. However, in the industrial countries, agricultural policy reform has languished in the face of much domestic opposition. But the reform of the European Union's Common Agricultural Policy (CAP) in 1992 and the 1996 Farm Bill in the United States seems to have ushered in a new era of relations between government and agricultural groups. The author points out ways that multilateral, regional, and unilateral paths could be coordinated to liberalized agricultural trade. He proposes a set of multilateral talks that would benefit from agricultural reform at all levels and complete the job begun at the Uruguay Round.
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