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The round led to the creation of WTO, and extended the range of trade negotiations, leading to major reductions in tariffs (about 40%) and agricultural subsidies, an agreement to allow full access for textiles and clothing from developing countries, and an extension of intellectual property rights. Doha: November 2001? 159
The World Trade Organization (WTO) is an intergovernmental organization headquartered in Geneva, Switzerland [6] that regulates and facilitates international trade. [7] Governments use the organization to establish, revise, and enforce the rules that govern international trade in cooperation with the United Nations System .
The original members of the World Trade Organization are the parties to the General Agreement on Tariffs and Trade (GATT) after ratifying the Uruguay Round Agreements, [1] and the European Communities. They obtained this status at the entry into force on 1 January 1995 or upon their date of ratification.
The authority of Congress to regulate international trade is set out in the United States Constitution (Article I, Section 8, Paragraph 1): . The Congress shall have power To lay and collect Taxes, Duties, Imposts and Excises, to pay the Debts and provide for the common Defence and to promote the general Welfare of the United States; but all Duties, Imposts and Excises shall be uniform ...
The World Trade Report (WTR) is the annual report published since 2003 by the World Trade Organization. Each WTR provides an in-depth analysis of an aspect of trends in international trade, trade policy issues and the multilateral trading system.
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The World Trade Organization has become an obstacle to improving the U.S. trade balance, as it grants "developing country" status to nations like China, allowing them to receive trade concessions ...
The USTR participates in the World Trade Organization, which is currently in the Doha Development Round. This is partially managed by the USTR Office of WTO and Multilateral Affairs (WAMA). Relevant WTO agreements include the Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS) and the Generalized System of Preferences.