Uruguay Agreement Wto

In particular, the revised agreement provides for clearer and more detailed rules regarding the method of determining the dumping of a product, the criteria to be taken into account in determining that dumping imports cause harm to a domestic industry, the procedures for opening and conducting anti-dumping investigations, and the implementation and duration of anti-dumping measures. In addition, the new agreement clarifies the role of dispute resolution bodies in disputes related to the anti-dumping measures of national authorities. While the agreement focuses largely on the phasing out of AMF restrictions, it also recognizes that some members maintain non-AMF restrictions that are not justified under a GATT provision. These would also be brought into compliance with the GATT within one year of the agreement`s entry into force or would gradually end for a period not exceeding the duration of the agreement (i.e. until 2005). The agreement recognizes that some investment measures limit and distort trade. It provides that no contracting party applies a TRIM incompatible with Articles III (domestic treatment) and XI (prohibition of quantitative restrictions) of the GATT. To this end, the agreement is accompanied by a clear list of TRIMs incompatible with these articles. The list contains measures that require a certain level of local supply by a company („local content requirements“) or that limit the volume or value of imports that buy or limit such a business to the level of products it exports („commercial clearing requirements“). Part of the agreement concerns the application of compensatory measures for subsidized imported products. It sets out disciplines for the opening of compensation cases, investigations by national authorities and rules of evidence to ensure that all interested parties can provide information and arguments. Some disciplines for calculating the amount of a grant are described as the basis for the finding of harm to the domestic industry.

The agreement would require that the assessment of the industry`s situation take into account all relevant economic factors and that a causal link be established between the subsidized imports and the alleged harm. Compensatory investigations are immediately closed if the amount of a subsidy is de minimis (the subsidy is less than 1% advalorem) or if the volume of imports subject to subsidies, physical or potential, or the damage is negligible. Except in exceptional circumstances, the investigation will be closed within one year of its opening and, under no circumstances, within 18 months. All countervailing duties must be terminated within five years of their introduction, unless the authorities determine, on the basis of an audit, that the expiry of the right would likely result in a continuation or reappearance of subsidies and harm. The Uruguay Round was the eighth round of multilateral trade negotiations (NTMs), organized under the General Agreement on Tariffs and Trade (GATT) from 1986 to 1993, which included 123 countries as „contracting parties“. The cycle culminated in the creation of the World Trade Organization, with GATT remaining an integral part of the WTO agreements. The broad mandate of the round was to extend GATT trade rules to areas that were previously too liberalised (agriculture, textiles) and new and increasingly important areas that had not yet been taken into account (trade in services, intellectual property, distortion of investment policy). [1] The cycle came into force in 1995 and the deadlines expired in 2000 (2004 for contracting parties in developing countries) under the administrative direction of the newly created World Trade Organization (WTO).

[2] The agreement defines three categories of grants.