Kennedy acknowledged his support for the reformulation of the U.S. trade agenda, which led to the Trade Expansion Act of 1962. This law gave the president the broadest bargaining power ever. The GATT had three main provisions. The most important requirement was that each member should grant any other member most-favoured-nation status. All members must be treated on the same point when it comes to tariffs. He excluded special tariffs among members of the British Commonwealth and the customs union. It has authorised customs duties if its removal would cause serious injury to domestic producers. Governments cede some degree of control to an international agreement The GATT and its successor, the WTO, have succeeded in reducing tariffs. Average tariffs for the main GATT participants were about 22% in 1947 and 5% after the Uruguay Round in 1999. [4] Experts attribute some of these customs changes to GATT and the WTO.

[5] [6] [7] Differences must be resolved through consultation. In May 1963, ministers agreed on three negotiating objectives for the round: the General Agreement on Tariffs and Trade (GATT), signed on 30 October 1947 by 23 countries, was a legal agreement which minimised obstacles to international trade by removing or reducing quotas, tariffs and subsidies; while maintaining important rules. Gatt has recognized that tariffs are often a significant barrier to international trade. Therefore, GATT would encourage the negotiation of tariff reductions on a reciprocal and mutually beneficial basis, taking into account the different needs of each Contracting Party. The average level of tariffs of the major GATT participants was about 22% in 1947. [4] Following the first rounds of negotiations, tariffs within the GATT core of the United States, the United Kingdom, Canada and Australia were reduced compared to other contracting parties and non-GATT participants. [4] In the Kennedy Round (1962-67), the average level of tariffs of GATT participants was about 15%. [4] After the Uruguay Round, tariffs were below 5%. [4] The GATT was created to establish rules to end or limit the most costly and undesirable features of the protectionist pre-war period, namely quantitative barriers to trade, such as trade controls and quotas.

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