GATT (cont)
Industrial Tariff
- Rich nations will reduce tariffs on industrial goods by 1/3 rd.
Agriculture
- Reduce subsidies in six years. (by 20%)
- Change all administrative barriers to tariffs which need to be reduced.
Services
- no agreement yet. Talks continue especially in telecommunication and financial services.
Textiles
- Normal GATT rules to apply in 10 years. No more import quota