Dillon Round: Difference between revisions
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The '''Dillon Round''' was a multi-year [[multilateral trade negotiations|multilateral trade negotiation]] (MTN) between 26 nation-states that were parties to the [[GATT]]. The fifth round in the GATT occurred in [[Geneva]] and lasted from May 1959 through July 1962. The talks were named after U.S. Treasury Secretary and former Under Secretary of State, [[Douglas Dillon]], who first proposed the talks. Along with reducing over $4.9 billion in tariffs with about 4,400 item-by-item cuts, it also yielded discussion relating to the creation of the [[European Economic Community]] ([[European Community|EEC]]).<ref name="ag">{{cite journal | |
The '''Dillon Round''' was a multi-year [[multilateral trade negotiations|multilateral trade negotiation]] (MTN) between 26 nation-states that were parties to the [[GATT]]. The fifth round in the GATT occurred in [[Geneva]] and lasted from May 1959 through July 1962. The talks were named after U.S. Treasury Secretary and former Under Secretary of State, [[Douglas Dillon]], who first proposed the talks. Along with reducing over $4.9 billion in tariffs with about 4,400 item-by-item cuts, it also yielded discussion relating to the creation of the [[European Economic Community]] ([[European Community|EEC]]).<ref name="ag">{{cite journal |10.1057/9780230378902_3}}</ref><ref name="hgr">{{cite news |title=HISTORY OF GATT ROUNDS |url=https://www.joc.com/history-gatt-rounds_19931214.html |publisher=JOC.com |date=14 December 1993}}</ref><ref name=miller/><ref name="oupem">{{cite journal |doi=10.1093/oxfordhb/9780199586103.013.0006}}</ref> |
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One of its achievements was the adoption of a [[common external tariff]] by the [[European Economic Community]]. Significant concessions on tariffs to agricultural exports were granted by the [[United States]].<ref name="miller">{{cite web |last1=Miller |first1=William J. |title=Dillon Round |url=https://lawin.org/dillon-round/|date=2016-06-29 }}</ref> The Dillon Round was also agreed by 11 other [[Developed Countries]] and six [[Less Developed Countries]]: [[Cambodia]], [[Haiti]], [[India]], [[Israel]], [[Pakistan]] and [[Peru]].<ref name="gtc">{{cite journal |journal=10.2307/2231040|volume=84|issue=335|pages=566–575|doi=10.2307/2231040|jstor=2231040|title=Gatt Tariff Concessions and the Exports of Developing Countries--United States Concessions at the Dillon Round|year=1974|last1=Finger|first1=J. M.}}</ref> |
One of its achievements was the adoption of a [[common external tariff]] by the [[European Economic Community]]. Significant concessions on tariffs to agricultural exports were granted by the [[United States]].<ref name="miller">{{cite web |last1=Miller |first1=William J. |title=Dillon Round |url=https://lawin.org/dillon-round/|date=2016-06-29 }}</ref> The Dillon Round was also agreed by 11 other [[Developed Countries]] and six [[Less Developed Countries]]: [[Cambodia]], [[Haiti]], [[India]], [[Israel]], [[Pakistan]] and [[Peru]].<ref name="gtc">{{cite journal |journal=10.2307/2231040|volume=84|issue=335|pages=566–575|doi=10.2307/2231040|jstor=2231040|title=Gatt Tariff Concessions and the Exports of Developing Countries--United States Concessions at the Dillon Round|year=1974|last1=Finger|first1=J. M.}}</ref> |
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Revision as of 16:14, 8 September 2019
The Dillon Round was a multi-year multilateral trade negotiation (MTN) between 26 nation-states that were parties to the GATT. The fifth round in the GATT occurred in Geneva and lasted from May 1959 through July 1962. The talks were named after U.S. Treasury Secretary and former Under Secretary of State, Douglas Dillon, who first proposed the talks. Along with reducing over $4.9 billion in tariffs with about 4,400 item-by-item cuts, it also yielded discussion relating to the creation of the European Economic Community (EEC).[1][2][3][4]
One of its achievements was the adoption of a common external tariff by the European Economic Community. Significant concessions on tariffs to agricultural exports were granted by the United States.[3] The Dillon Round was also agreed by 11 other Developed Countries and six Less Developed Countries: Cambodia, Haiti, India, Israel, Pakistan and Peru.[5]
Concern was expressed in the US over the potential exclusion by the EEC of traditional trading partners. At the time, the six-nation EEC accounted for one-sixth of US foreign trade, including over one-fifth of US farm exports. The Trade Expansion Act was passed as a result of the Dillon Round, in order to "help preserve the economic basis for Atlantic co-operation."[6]
References
- ^
{{cite journal}}: Empty citation (help) - ^ "HISTORY OF GATT ROUNDS". JOC.com. 14 December 1993.
- ^ a b Miller, William J. (2016-06-29). "Dillon Round".
- ^ . doi:10.1093/oxfordhb/9780199586103.013.0006.
{{cite journal}}: Cite journal requires|journal=(help); Missing or empty|title=(help) - ^ Finger, J. M. (1974). "Gatt Tariff Concessions and the Exports of Developing Countries--United States Concessions at the Dillon Round". 10.2307/2231040. 84 (335): 566–575. doi:10.2307/2231040. JSTOR 2231040.
- ^ "GATT and the Kennedy Round" (PDF). Central Intelligence Agency.