The Gatt Uruguay Round; Implications for Small Business
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Excerpt from The Gatt Uruguay Round; Implications for Small Business: Hearing Before the Committee on Small Business, House of Representatives, One Hundred Third Congress, Second Session, Washington, DC, April 26, 1994 The committee met, pursuant to notice, at 10:10 a.m., in Room 2359-A, Rayburn House Office Building, Hon. John J.LaFalce (chairman of the committee) presiding. Chairman LaFalce. The Small Business Committee will come to order. This morning our committee convenes to review the primary features of the Uruguay Round Agreement and its implications for U.S. companies and their workers. We meet barely 1 week after the agreement´s historic signing in Marrakesh, Morocco which brought 125 GATT member countries together to agree to increased international discipline on global commerce. The question we in Congress and the American people must now consider is whether this agreement is, on balance, good for the United States. The Uruguay Round is in many ways a victory for the United States. It was United States leadership that launched the Round in Punte del Este, Uruguay, in September 1986, insisting that not only traditional trade in goods be liberalized, but that new sectors and issues also come under the Gatt umbrella. As is typical in such Rounds, we had the usual "bread and butter" issues of market access - tariff and nontariff barriers to pursue with over 100 contracting parties of the GATT. But as a result of the United States´ insistence, GATT members also considered new trade rules for agriculture, intellectual property, services, and trade-related investment measures. We faced resistance across the board as well as specific assaults on U.S. trade law. As a result, these negotiations dragged on for 7 years, 3 years past the first deadline and several deadlines thereafter. The fact that we have finally concluded such a monumental international trade agreement is a tribute to the consistent effort of your dedicated team of negotiators over the years. The signing of the Uruguay Round Agreement occurs at a critical time for international economy. This month, the most recent U.S. Trade figures were released showing a substantial increase in our trade deficit. February figures were the worst monthly posting in 6 years, rising sharply to $9.7 billion from January´s $6.4 billion. The increase in the merchandise deficit was 20 percent, while the traditional services surplus dropped 11 percent. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
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