International Trade

Article Analysis International Trade

According to the April 13, 2005 issue of "BRIDGES Weekly," seven Asian countries have decided to pursue a preliminary agreement on trade liberalization in industrial goods. The seven nations China, Hong Kong, Indonesia, Japan, the Philippines, Singapore, and Thailand agreed to try for a consensus on a tariff-cutting formula and move ahead on non-agricultural market access (NAMA). The article states,

Japanese Trade Minister Shoichi Nakagawa told local news wires that the attendees had supported a personal paper he had put forward, in which he called for "higher rates of reduction" to higher tariffs. He also said that they had agreed that setting maximum limits for duties on some goods for which tariffs have remained 'unbound' thus far was "essential," and that the tariff-

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Category: Economics - I