Chapter 8 – Commercial Policy. INTERNATIONAL ECONOMICS, ECO 486 Recommended reading: 10 common misconceptions WTO newsletter. Learning Objectives. Distinguish between commercial policy and industrial policy Understand the lessons from the history of US commercial policy
“ Any advantage, favour, privilege or immunity granted by any contracting party to any product originating in or destined for any other country shall be accorded immediately and unconditionally to the like product originating in or destined for the territories of all other contracting parties.”
* tariffs cannot be raised without compensation.
(1972) Marine Mammal Protection Act
(1991) GATT panel agreed with MX that restrictions amounted to prohibited quotas
(1992) US Congress passed International Conservation Act
La Jolla Agreement
US, Mexico & 8 other countries set a goal: dolphin kill < 5000/year (out of 9.6 million) by 2000. In return, US will lift quotas…
Actual deaths < 2,700 in 1996.
(1995) Panama Declaration
Changed definition of “Dolphin-Safe Tuna” to include tuna caught in encircling nets provided no dolphins were killed.
(1997) US Congress passed International Dolphin Conservation Program Act
(2002) National Marine Fisheries Service study