The Purpose Of The General Agreement On Tariffs And Trade Was To

Gatt and its successor, the WTO, have succeeded in reducing tariffs. Average tariffs for the main GATT participants were about 22% in 1947 and 5% after the Uruguay Round in 1999. [4] Experts attribute some of these customs changes to GATT and the WTO. [5] [6] [7] Prior to the introduction of the GATT/WTO (WTO) Agreement on 1 July 1995, variable import levies were levied on imports from third countries. At present, these taxes are subject to customs duties, i.e. converted into a fixed duty to be paid in euros per tonne or as a percentage of the import price. Under the agreement, rates were reduced by an average of 36% compared to the base period from 1986 to 1988. In addition, the GATT/WTO Agreement provides for minimum quotas for access to imports at reduced rates corresponding to 5% of consumption during the base period. .