1. Introduction: World Trade Organization, Trade and Opportunities -- 2. Trade Policy and Price-based Barriers -- 3. Non-Tariff Barriers and Trade Flows -- 4. Trade, Environment and Climate Change -- 5. RTAs and Trade Integration -- 6. Emerging Issues under WTO -- 7. Conclusion.

This paper addresses the impact of Multilateral Trade Liberalisation (MTL) on the preferential tariffs granted by the United States. For a given MFN tariff, we model the preferential tariff with a simple linear functional form. We take MTL of the US as known to the world by the end of Uruguay...