The World trade organization

6 important questions on The World trade organization

Non Discrimination - Most favored nation =

Each member must grant treatment to all other members as favorable as it extends to any indivdual member country

Non Discrimination - National treatment

Specifies that foreing goods within acoutnry should be treated no less favorably than domestic goods with regard to tax policies and other regulations

WTO changes in the Agreement on Agricultur

1 Quotas are replaced by tariffs (tariffication)
2 Developed and developing countries must reduce Tariffs by 36 and 24 percent
3 LDCs no tariff reduction
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TRIPS Trade related aspects of intellectual property rights

Copyrights
Trademarkts
Geographical indications
Industrial design
Patents
Layout designs of integrated circuits

What changed from GATT to WTO


• Rules rather than negotiations
• Dispute settlement mechanisme
Focus on LDCs
• Preferential access
• Long gestation periods
But:
• Investment
• Intellectual property rights

Fair trade tariffs

oWhen subsidies are causing harm to a countries trade system the country is allowed to apply tariffs or other counterveiling duties

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