Tariffs: Round's End

With a flourish of pens and champagne glasses, delegates of 49 non-Communist nations gathered in Geneva's Palais des Nations last week to sign final agreement to the most sweeping tariff reductions in the history of international trade. The meeting climaxed four years of bargaining, sponsored by the General Agreement on Tariffs and Trade, in the oft-troubled but ultimately triumphant Kennedy Round negotiations.

The final package included a massive list of 60,000 items on which tariffs are to be pulled down an average 35% by 1972, a special agreement on the thorny issue of chemical duties, a plan to provide grain...

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