Kennedy Round
Summary of Kennedy Round
A series of international trade discussions commencing in Geneva in May 1964, under the auspices of the General Agreement on Tariffs and Trade (read about the GATT for further details). The discussions were prompted by the U.S. government in the wake of the Trade Agreements Act of 1962. The Kennedy Round did not fully attain its announced objectives, but several important benefits were achieved, including an average 35 percent reduction in duties on approximately sixty thousand industrial products, the adoption of an antidumping code, and the acknowledgment that tariff reductions accorded to developing nations did not require reciprocal concessions. The Kennedy Round ended officially on June 30, 1976, with the official adoption of the agreement by fifty-three countries.
(Main Author: William J. Miller)
Kennedy Round and the GATT Policy Negotiations
In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of Kennedy Round: The sixth GAIT Round of multilateral trade negotiations, held in Geneva from June 1963 to June 1967 with 48 countries participating. Tariff reductions — based for the first time on a formula approach –covered $40 billion in trade and led to an average tariff reduction among the participating countries of about 35 percent. The Kennedy Round was the first GATT negotiation in which the member states of the European Community participated as a single entity. Moreover, developing countries for the first time played an important part in the negotiations, which resulted in the addition of Part Four to the GATT. The Round was named for President John F. Kennedy, who first sounded the call for the negotiations.
Hierarchical Display of Kennedy Round
Trade > Tariff policy > Tariff policy > Tariff negotiations
Kennedy Round
Concept of Kennedy Round
See the dictionary definition of Kennedy Round.
Characteristics of Kennedy Round
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Resources
Translation of Kennedy Round
- Spanish: Ronda Kennedy
- French: Négociation Kennedy
- German: Kennedy-Runde
- Italian: Negoziato Kennedy
- Portuguese: Kennedy Round
- Polish: Runda Kennedy’ego
Thesaurus of Kennedy Round
Trade > Tariff policy > Tariff policy > Tariff negotiations > Kennedy Round
See also
- Town-planning law
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