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Analyzes the impact of the Uruguay Round Agreements of the GATT on the U.S. economy, focusing on 58 important agricultural, industrial, and service sectors, including agriculture, fishery, and forestry; energy and chemicals; textile, apparel, and footwear; minerals and metals; machinery and transportation; electronics; miscellaneous manufacturing; and service sectors. Over 200 charts and tables.
Examines (1) the overall economic effects of the NAFTA on the economies of the U.S., Mexico, and Canada; (2) the key NAFTA provisions and related legal changes that may affect individual sectors; and (3) the short- and long-term impact of NAFTA on important industrial, energy, agricultural, and service sectors of the U.S. economy. Also summarizes recent economic developments in Mexico. Tables and figures.
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The GATT was established in 1947 as a multilateral agreement on international trade. Of the eight rounds of negotiations, the Uruguay Round, covering the period from 1981 to 1994, had the widest participation and involved the most intensive negotiations. It was also the most comprehensive round, encompassing new areas such as trade in services and the protection of intellectual property, as well as longstanding problem areas such as agriculture and textiles. Most significantly, this round resulted in the establishment of a permanent World Trade Organization, which will provide the institutional basis for future international trade and a forum for settlement of disputes.
Reviews the U.S. Department of Agriculture's cotton program's cost and complexity, distribution of payments, effects on producers' costs and returns, and effectiveness in enhancing U.S. cotton exports. Suggests alternatives Congress may wish to consider to streamline the program and reduce its costs. 46 charts, tables and graphs.