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No. 1. Tax Adjustments in International Trade: GATT Provisions and

EEC Practices (April 1973—pp. 5–21) This study explores the GATT provisions on tax adjustments made at the border on imports and exports, specifically with regard to adjustments made by the EC in connection with value added taxes. Tax shifting assumptions on direct and indirect taxes are examined, in the context of the higher level of consumption taxes in the Common Market as compared with the United States. The study points out that deficiencies clearly do exist in the present GATT provisions governing these matters. However, neither the United States nor any other country has yet come forward with any practical proposals for change. No. 2. GATT Provisions on Unfair Trade Practices (May 1973—pp.

23–30) This study discusses the GATT provisions dealing with antidumping, countervailing duties, subsidies, and the protection of patents, trademarks and copyrights. The description of the International Antidumping Code does not deal with the differences between the Code and U.S. law nor the fact that Congress has ruled that U.S. law shall override the Code in all areas of conflict. A list of measures which certain industrialized nations, including the United States, have determined to be subsidies for the purposes of article XVI of the GATT is included. Finally, the study describes the difficulties of attempting to negotiate the nontariff barriers which are deeply embodied in the domestic laws of the United States. No. 3. The Adequacy of GATT Provisions Dealing with Agriculture

(May 1973—pp. 31-37) · The general rules of the GATT dealing with agriculture, including the specific exceptions which have been made for agricultural trade, are discussed in this study. The most important exception is that allowing governments which regulate domestic marketing production or impose restrictions upon imports of that product. Problems raised by the variable levy system of the Common Market, including the so-called "chicken war” of the early 1960's, are discussed. The study points out that neither the GATT nor the negotiations which have been undertaken under its auspices have been very successful in regulating and harmonizing the restrictions on agricultural trade which are imposed by most countries.

No. 4. Effects of Regional Trade Groups on U.S. Foreign Trade: The

EC and EFTA Experiences (May 1973—pp. 39–76) This study discusses the growth of regional trade groups, including both customs unions and free trade areas. The negative impact of such trade blocs on U.S. trade is discussed. The restrictive effect of the EC's variable levy system on agricultural products is specifically analyzed. There is little clear evidence to support the theory that the trade diverting effect of such trading blocs has been offset by the trade creating effect arising from economic integration. No. 5. Discriminatory Government Procurement Policies (June 1973—

pp. 77–85) Study No. 5 deals with discriminatory governmental procurement policies maintained by the major industrialized countries. It points out that the GATT provides essentially no guidelines with respect to government purchases of goods and services and does not, therefore, provide any framework for governing this portion of international trade among countries. Most Common Market nations maintain procedural policies with respect to procurement and bidding which effectively restrict the ability of foreign suppliers to compete for government contracts. Moreover, the move toward harmonization of procurement policies in the community will have an even more detrimental effect on U.S. trade, particularly in the area of high technology products such as computers. Japan's selective bidding procedures also strongly favor domestic products. In the United States, the Buy American Act provides producers with a 50% price preference for Defense Department purchases, and a 6 to 12 percent price preference for civilian government purposes. Recent efforts in the OECD to harmonize the procurement laws and practices of the major trading countries have not been successful. No. 6. The Quantitative Restrictions in the Major Trading Countries

(June 1973—pp. 87–111) Although Article XI of the GATT provides for the elimination of quantitative restrictions, this requirement is subject to important exceptions which have generally weakened its effectiveness. Most quantitative restrictions maintained today by the industrialized countries relate to agricultural commodities. However, Japan continues to maintain serious non-agricultural quantitative restrictions, on such high technology products as digital computers and integrated circuits. An appendix listing quantitative import restrictions imposed by the major trading countries is included. No. 7. The GATT Balance-of-Payments Safeguard Provision: Article

XII (June 1973—pp. 113–120) Article XII of the GATT permits countries to impose quantitative restrictions in order to protect their economies from serious balance of payments deficits. In practice, however, most nations have imposed import surcharges and other measures rather than quotas in dealing with balance-ofpayments difficulties. The study concludes that “Article XII should be amended to reflect the current collective judgment of GATT members by explicitly allowing trade measures other than quotas to be resorted to for balance-of-payments reasons.” No. 8. GATT Provisions on Relief from Injurious Imports (June 1973—

pp. 121–129) Article XIX is the primary GATT provision dealing with safeguard measures imposed to protect domestic industries from injury due to imports. Under such circumstances countries are permitted to raise duties temporarily above concessionary levels. Export restraints have also been used to protect domestic industries from market disruption. The study points out that many countries, including the United States, have often imposed safeguard measures not completely consistent with the GATT. There is a recognized need to negotiate new rules establishing realistic and effective standards for safeguard mechanisms in the GATT. No. 9. The Most-Favored-Nation Provision (July 1973—pp. 131–146)

This study begins with the history of the implementation of the MostFavored-Nation (MFN) provision as applied with respect to trade agreements negotiated over the past several hundred years. The reintroduction of the unconditional form of MFN in the 1920s by the United States and other industrialized countries is included in the historical discussion. The study continues with an examination of the general MFN principle in the GATT and the exceptions thereto which have been made for customs unions and free trade areas. It is pointed out that the principle of Most-Favored-Nation trade is currently being observed more in the breach, given the proliferation of trade blocs and preferential trading arrangements including reverse preference schemes. The U.S. has proposed that an overall examination be undertaken by the GATT concerning these trading blocs and their impact on world trade. However, no real progress has been made. No. 10. The Effect of Foreign Exchange Rate Changes on U.S. Trade

and Tariff Concessions (July 1973—pp. 147–149) This study examines the relationship between monetary fluctuations and trade conditions, with the implication that the current situation of freely adjusting rates tends to reduce the effect of modifications in tariff rates. Flexible exchange rates, the study points out, enable economies to adjust to cyclical changes better than under a fixed exchange rate system. Recent devaluations of the U.S. dollar have had a positive effect on U.S. exports and the trade balance as a whole. A listing of trade negotiations and exchange rate changes since 1947 is included. No. 11. The GATT Provisions on Compensation and Retaliation (July

1973—pp. 151–159) This study discusses the GATT provisions aimed at maintaining the overali balance of trade concessions negotiated under trade agreements. These

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