Modifications

Modifications

Modifications and the GATT Policy Negotiations

In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of Modifications: Alteration or withdrawal of trade concessions previously made within GATT. Contracting Parties are permitted by Article 28 to modify concessions in their tariff schedules every three years by renegotiating changes with those GATT members that would be primarily affected. By introducing some flexibility to the structure of GATT obligations, this provision allows members to adapt to changing conditions in world trade while proscribing frequent tariff changes that would create uncertainty and instability. See also rectifications.


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