What is the Uruguay Round of GATT?
The Uruguay Round of GATT (General Agreement on Tariffs and Trade) was a series of meetings held from 1986 to 1994 that aimed to reform international trade law in Massachusetts and around the world. The agreements that were reached during the Uruguay Round changed the focus of international trade from simply reducing tariffs on trade goods to creating new rules and regulations that affected areas such as intellectual property, services, and agricultural trade. The Uruguay Round of GATT was the longest and most ambitious round of trade negotiations at the time and set the stage for the establishment of the World Trade Organization (WTO). The negotiations also included a General Agreement on Trade in Services (GATS) and established a system for the global protection of intellectual property called the “TRIPS” (Trade-Related Aspects of Intellectual Property Rights) Agreement. These changes moved international trade from a system based on unenforceable international rules to a system that was more structured and integrated into domestic laws. This created a framework of rules, regulations, and enforcement mechanisms to create a more level playing field for international trade. The Uruguay Round of GATT is widely viewed as one of the most important rounds of trade negotiations and is credited for its role in increasing world trade and economic prosperity. In Massachusetts, the Uruguay Round of GATT set the stage for future international trade agreements like the North American Free Trade Agreement (NAFTA) and the Trans-Pacific Partnership (TPP).
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