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Course on WTO Law and Jurisprudence Part I: Basic Principles of WTO Law From the ITO to the WTO: The historical origins and structure of the WTO Agreement Session 1 15 October 2015 FROM THE ITO TO THE WTO 1930 – 1933 In 1930, the United States enacts the Smoot-Hawley tariff, raising its tariffs to the highest levels in its history. Other countries react by raising their import barriers. By 1931 vast import restrictions and exchange controls have been imposed by 26 countries. In 1933, the United Kingdom abandons free trade and establishes a system of imperial tariff preferences. Countries promote exports by competitive devaluations of their currencies. 1934 – 1945 The United States enacts the Reciprocal Trade Agreements Act of 1934 and, under the authority of that Act, concludes 32 bilateral trade agreements with provisions similar to those contained in the GATT. 1946 – 1948 Negotiations on the Charter for an International Trade Organisation (ITO) are conducted the framework of the U.N. Economic and Social Council. The Charter covers a vast range of issues, including employment, development, reconstruction, commercial policy, restrictive business practices and commodity agreements. The Charter fails because the United States administration decides not to submit it to Congress. 1947 – The Chapter of the ITO Charter on commercial policy is transformed into the General Agreement on Tariffs and Trade (GATT). The GATT does not enter into force. Instead, it is applied on the basis of the Protocol of Provisional Application of 1947 and the protocols of accession to the GATT. The staff of the Interim Commission for the International Trade Organisation (ICITO) provides secretariat services to the contracting parties to the GATT. FROM THE ITO TO THE WTO (2) 1954 – 1955 The Review Session of the CONTRACTING PARTIES to the GATT considers organisational aspects of the GATT and proposes the creation of an Organisation for Trade Co-operation (OTC). The proposal fails because the United States administration decides not to submit it to Congress. 1973 – 1979 The Tokyo Round of multilateral trade negotiations ends with six agreements supplementing the GATT in the areas of technical barriers to trade, government procurement, subsidies, customs valuation, import licensing, anti-dumping and three sector-specific agreements on bovine meat, dairy products, and civil aircraft. Less than one third of the 125 contracting parties decide to accept these agreements. In addition, an understanding codifying the dispute settlement practices of the GATT is adopted. 1986 – 1994 The Uruguay Round of multilateral trade negotiations leads to the creation of a new World Trade Organization (WTO) replacing the GATT. The protocols through which GATT was applied are terminated and the ICITO, at its final meeting in December 1994, agrees to transfer its assets and liabilities to the WTO. FROM THE ITO TO THE WTO (3) GATT Negotiation Rounds 1949: 1950-51: 1956: 1960-61: 1964-67: 1973-79: 1986-94: Annecy Round. Torquay Round. Geneva II Round (first Geneva Round was the conclusion of the GATT in 1947). Dillon Round (named after U.S. Treasury Secretary Douglas Dillon). Kennedy Round (named after President John F. Kennedy). First Round to include non-tariff issues (dumping). Tokyo Round. Uruguay Round. THE RESULTS OF THE URUGUAY ROUND The results of the Uruguay Round were incorporated into the Marrakesh Agreement Establishing the WTO (WTO Agreement). Annexed to the WTO Agreement are close to thirty legal instruments called: "multilateral agreements", "plurilateral agreements" and "understandings". THE WTO AGREEMENTS Agreement Establishing the World Trade Organization Multilateral trade agreements GATT 1994, defined as comprising: The GATT 1947 Legal instruments adopted under the GATT 1947 Six understandings on provisions of the GATT 1994 Marrakesh Protocol to the GATT Plurilateral trade agreements GATS TRIPS Agreement Agreement on Civil Aircraft Ten agreements supplementing the GATT 1994 Agreement on Agriculture SPS Agreement Agreement on Technical Barriers to Trade Agreement on Trade-Related Investment Measures Anti-dumping Agreement Customs Valuation Agreement Agreement on Preshipment Inspection Agreement on Rules of Origin Import Licensing Agreement Safeguards Agreement Understanding on the Rules and Procedures Governing the Settlement of Disputes (DSU) Trade Policy Review Mechanism (TPRM) Agreement on Government Procurement THE HIERARCHY OF THE WTO AGREEMENTS WTO AGREEMENT (Protocols of Accession (see Article XII)) Annex 1A (Trade in Goods) Agreement on Agriculture (see Article 21.1) Specific agreements supplementing the GATT (see Note to Annex 1A of WTO Agreement) GATT 1994 • Decisions such as Enabling Clause • Schedules of Concessions Annex 1B Annex 1C Annex 2 Annex 3 Annex 4 GATS TRIPS DSU Trade Policy Review Mechanism Plurilateral Trade Agreements (GPA) (not binding on all Members)