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BRILLIANT'S Export Management 267

earlier rounds, ‘across the board’ tariff
negotiations conducted. Tariffs cut by 35
percent on manufactured goods.
Seventh 1973-79 Tokyo 99 countries participated. Reduction of
(Tokyo Round) (Japan) tariffs by 20-30 percent on goods valued
at over $ 300 billion announced mostly on
manufactured goods. Study groups on
quantitative restrictions, safeguards,agri-
culture etc.,set up. Nothing much achieved.
Eighth 1986-1994 Punta Del Complex negotiations covering agriculture,
(Uruguay Round) Este Multi-Fibre Arrangement (concerning trade
(Uruguay) in textiles and clothing), market access,
TRIMs, TRIPs and services. Negotiations
result in the creation of a new international
body WTO replacing GATT.

This table presents a birds eyeview of tariff negotiations under the
various rounds of GATT.
Provisions of GATT

The various provisions related to the GATT are as follows:
1. Trade in Agriculture: The provisions of GATT related to the trade
in agriculture are as follows:
(a) Reduction in subsidy: It provides for reduction in subsidy granted
to agriculture by the government. Two types of financial assistance
is provided to agriculture, viz, input related assistance and output
related assistance.
Input related refers to subsidies on availability of water, electricity,
fertilizers, seeds and pesticides. Output-related refers to the 'support-
price' for the output of the farmer. Support price is the minimum
guaranteed price of agricultural crops fixed by government.
(b) Free trade in foodgrains: GATT provides free trade in foodgrains
to those nations which are facing difficulty in balance of payments.
Under this, those countries which have surplus balance of
payments will have to open their markets to the farmers of other
countries.
(c) Easy access to foreign exchange: The developing countries
who are facing difficulty in the foreign exchange will be allowed to
impose tariff on foodgrain imports.