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The Political Economy of the Uruguay Round: Groups, Strategies, Interests and Results

In: Multilateralism and Regionalism after the Uruguay Round

Author

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  • Carlo Secchi

Abstract

Throughout the various negotiating cycles since the Geneva Round (1947), the GATT has achieved ever greater tariff liberalization, thereby contributing to the development of world trade. In the last 40 years, import tariffs on industrial products fell on average from 40 per cent to today’s current rate of about 5 per cent. And this is not the only success of GATT. New rules on dumping, subsidies, safeguard measures and many types of NTB were also introduced. World trade in the period from 1959 to 1975 increased five-fold. In the second half of the 1970s, however, the growth of world trade slowed down considerably. In this same period, even GATT’s capacity to ensure the stability and progressive liberalization of international trade lessened, as witnessed by the limited success of the Tokyo Round, the seventh negotiating cycle in the history of GATT.

Suggested Citation

  • Carlo Secchi, 1997. "The Political Economy of the Uruguay Round: Groups, Strategies, Interests and Results," Palgrave Macmillan Books, in: Riccardo Faini & Enzo Grilli (ed.), Multilateralism and Regionalism after the Uruguay Round, chapter 2, pages 61-111, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-25502-3_2
    DOI: 10.1007/978-1-349-25502-3_2
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