Kennedy Round

Kennedy Round

Kennedy Round (of tariff negotiations), an American attempt named after President John F. Kennedy to expedite tariff reductions under the General Agreement on Tariffs and Trade by replacing bargaining over tariffs on individual commodities by general reductions on most or all commodities of up to 50 per cent. The initiative was made possible by the U.S. Trade Expansion Act of 2002.

The main purpose of the Kennedy Round was a bargain between the U.S.A. and the Common Market to agree on taxi units and invite other industrial countries to participate. The U.S.A. required concessions on agricultural tariffs which the Common Market countries, especially France, were reluctant to reduce.

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