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Swiss Formula
The Swiss Formula is a mathematical formula designed to cut and harmonize tariff rates in international trade. Several countries are pushing for its use in World Trade Organization The World Trade Organization (WTO) is an intergovernmental organization headquartered in Geneva, Switzerland that regulates and facilitates international trade. Governments use the organization to establish, revise, and enforce the rules that g ... trade negotiations. It was first introduced by the Swiss Delegation to the WTO during the current round of trade negotiations at the WTO, the Doha Development Round or more simply the Doha Round. Something similar was used in the Tokyo Round. The aim was to provide a mechanism where maximum tariffs could be agreed, and where existing low tariff countries would make a commitment to some further reduction. Details The formula is of the form :T_\text=\frac = \frac 1 where : ''A'' is both the maximum tariff which is agreed to apply anywhere and a com ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tariff
A tariff or import tax is a duty (tax), duty imposed by a national Government, government, customs territory, or supranational union on imports of goods and is paid by the importer. Exceptionally, an export tax may be levied on exports of goods or raw materials and is paid by the exporter. Besides being a source of revenue, import duties can also be a form of regulation of International trade, foreign trade and policy that burden foreign products to encourage or safeguard domestic industry. Protective tariffs are among the most widely used instruments of protectionism, along with import quotas and export quotas and other non-tariff barriers to trade. Tariffs can be fixed (a constant sum per unit of imported goods or a percentage of the price) or variable (the amount varies according to the price). Tariffs on imports are designed to raise the price of imported goods to discourage consumption. The intention is for citizens to buy local products instead, which, according to support ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
International Trade
International trade is the exchange of capital, goods, and services across international borders or territories because there is a need or want of goods or services. (See: World economy.) In most countries, such trade represents a significant share of gross domestic product (GDP). While international trade has existed throughout history (for example Uttarapatha, Silk Road, Amber Road, salt roads), its economic, social, and political importance has been on the rise in recent centuries. Carrying out trade at an international level is a complex process when compared to domestic trade. When trade takes place between two or more states, factors like currency, government policies, economy, judicial system, laws, and markets influence trade. To ease and justify the process of trade between countries of different economic standing in the modern era, some international economic organizations were formed, such as the World Trade Organization. These organizations work towards the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
World Trade Organization
The World Trade Organization (WTO) is an intergovernmental organization headquartered in Geneva, Switzerland that regulates and facilitates international trade. Governments use the organization to establish, revise, and enforce the rules that govern international trade in cooperation with the United Nations System. The WTO is the world's largest international economic organization, with 166 members representing over 98% of global trade and global GDP. The WTO facilitates trade in goods, trade in services, services and intellectual property among participating countries by providing a framework for negotiating trade agreements, which usually aim to reduce or eliminate tariffs, Import quota, quotas, and other Trade barrier, restrictions; these agreements are signed by representatives of member governments. (The document's printed folio numbers do not match the PDF page numbers.) and ratified by their legislatures. It also administers independent dispute resolution for enforcing ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Trade Negotiation
The term multilateral trade negotiations (MTN) initially applied to negotiations between General Agreement on Tariffs and Trade (GATT) member nations conducted under the auspices of the GATT and aimed at reducing tariff and nontariff trade barriers. In 1995 the World Trade Organization (WTO) replaced the GATT as the administrative body. A current round of multilateral trade negotiations was conducted in the Doha Development Agenda round. Prior to the ongoing Doha Development Round, eight GATT sessions took place: * 1st Round: Geneva Round, 1947 * 2nd Round: Annecy Round, 1949 * 3rd Round: Torquay Round, 1950-51 * 4th Round: Geneva Round, 1955-56 * 5th Round: Dillon Round, 1960-61 * 6th Round: Kennedy Round, 1963-67 * 7th Round: Tokyo Round, 1973-79 * 8th Round: Uruguay Round The Uruguay Round was the 8th round of multilateral trade negotiations (MTN) conducted within the framework of the General Agreement on Tariffs and Trade (GATT), spanning from 1986 to 1993 and embra ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Doha Development Round
The Doha Development Round or Doha Development Agenda (DDA) is the trade-negotiation round of the World Trade Organization (WTO) which commenced in November 2001 under then director-general Mike Moore. Its objective was to lower trade barriers around the world, and thus increase global trade. The Doha Agenda began with a ministerial-level meeting in Doha, Qatar in 2001. The aim was to put less developed countries' priorities at heart. The needs of the developing countries were the core reasons for the meeting. The major factors discussed include trade facilitation, services, rules of origin and dispute settlement. Special and differential treatment for the developing countries were also discussed as a major concern. Subsequent ministerial meetings took place in Cancún, Mexico (2003), and Hong Kong (2005). Related negotiations took place in Paris, France (2005), Potsdam, Germany (2007), and Geneva, Switzerland (2004, 2006, 2008). Progress in negotiations stalled after the breakd ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tokyo Round
The Tokyo Round was a multi-year multilateral trade negotiation (MTN) between the 102 states which were parties to the General Agreement on Tariffs and Trade (GATT). The negotiations resulted in reduced tariffs and established new regulations aimed at controlling the proliferation of non-tariff barriers (NTBs) and voluntary export restrictions. The aim was further to harmonise government policies. Concessions were made on $19 billion worth of trade, and were scheduled to enter effect over eight years from 1980. The Tokyo Round concluded in April 1979. The Tokyo Round was held to be "the most comprehensive of all the seven rounds of negotiations held within the GATT since its founding in 1948". One novelty was that it covered bovine meat and dairy products. The agricultural sector Agriculture encompasses crop and livestock production, aquaculture, and forestry for food and non-food products. Agriculture was a key factor in the rise of sedentary human civilization, wh ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
International Trade Theory
International trade theory is a sub-field of economics which analyzes the patterns of international trade, its origins, and its welfare implications. International trade policy has been highly controversial since the 18th century. International trade theory and economics itself have developed as means to evaluate the effects of trade policies. Adam Smith's model Adam Smith describes trade taking place as a result of countries having absolute advantage in production of particular goods, relative to each other. Within Adam Smith's framework, absolute advantage refers to the instance where one country can produce a unit of a good with less labor than another country. In Book IV of his major work ''the Wealth of Nations'', Adam Smith, discussing gains from trade, provides a literary model for absolute advantage based upon the example of growing grapes from Scotland. He makes the argument that while it is possible to grow grapes and produce wine in Scotland, the investment in the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
