Tariff-Rate Quotas and the Uruguay Round

Abstract

As a result of the Uruguay Round of multilateral trade negotiations, participating nations agreed to open world agricultural markets to promote increased trade. This liberalization includes the conversion of nontariff barriers to tariffs over a period of fifteen years. As part of this transition, nontariff barriers have been replaced by tariff-rate quotas which will eventually be replaced by tariffs. This paper analyzes the economic effects of a tariff-rate quota and its implications for trade liberalization of trade in agriculture. (F!O, Fl3, QI?)