The Uruguay Round Replaced The General Agreement On Tariffs And Trade (Gatt) With

The implementation of the concessions and commitments contained in the timetables attached to this protocol is subject, at the request of the members, to multilateral review. This would not affect the rights and obligations of members arising from the agreements listed in Schedule 1A of the WTO agreement. All verifiable information provided appropriately should be taken into account in order to be used without undue difficulty during the investigation, which is communicated in a timely manner and, if necessary, in a media or computer language requested by the authorities. If a party does not react in the preferred media or computer language, the authorities note, however, that the circumstances covered in paragraph 2 are met, the non-response in the preferred media or computer language should not be considered a significant hindrance to the investigation. Interim measures may take the form of a provisional duty or, preferably, a guarantee – by cash contribution or borrowing – at the level of the provisional anti-dumping duty, which is not greater than the provisionally estimated dumping margin. Withholding on the calculation is an appropriate interim measure, provided that the normal duty and the estimated amount of the anti-dumping duty are indicated and as long as the retention of the calculation is subject to the same conditions as the other interim measures. In 1993, the GATT was updated (“GATT 1994”) to take on new obligations to its signatories. One of the most important changes was the creation of the World Trade Organization (WTO). The current 76 members of THE GATT and the European Communities became founding members of the WTO on 1 January 1995. The remaining 51 GATT members re-joined the WTO over the next two years (the last being Congo in 1997). Since the creation of the WTO, 33 new GATT members have joined and 22 are currently negotiating membership. In total, the WTO has 164 member states, with Liberia and Afghanistan being the most recent members from 2018. In the end, tariffs fell by 35%, with the exception of textiles, chemicals, steel and other sensitive products; In addition to a 15% to 18% reduction in tariffs on agricultural and food products.

In addition, the chemical negotiations resulted in an interim agreement on the abolition of the US selling price (ASP). This was a method of assessing certain chemicals used by these countries for the institution of import duties, which gave domestic producers a much higher level of protection than indicated under tariff conditions.