As it approached the end of the 20th Century the multilateral trading system appeared to be on a high point. The WTO was in operation for five years, 50 years after the GATT had provided a stop-gap measure for the ill-fated ITO. With the failure of Seattle, the WTO begins the 21st Century with...

The current WTO negotiations on industrial tariffs have focused largely on a formula approach to cutting tariffs, but the process of trying to find a compromise that would satisfy all sides has led to a number of propositions that entail blending various elements of formulae, sectoral...