- Several square brackets on thresholds and targets (e.g. in domestic support cuts) removed
- A “tariff cap” that isn’t: ‘sensitive’ products may have tariffs greater than 100% (!!) with a small (0.5%) expansion in the tariff quota and of course there are special ‘exceptions’ for the astronomical levels of protection in Iceland, Japan, Norway, Switzerland that are allowed to breach the 100% cap in non-sensitive products.
- Sensitive product quota expansion of 3% to 4% of domestic consumption as determined by a method (‘partial designation’) designed to so confuse the issue of what a ‘product’ is that, in reality, you can discount the growth factor by (say) the ‘number you first thought of…’
- A set of proposals (in an additional paper) for accommodating the demand from Canada and Japan that they should be allowed to create new tariff quotas as part of this substantial improvement in market access: a new regression in the Doha modalities
- A complex set of provisions to permit developing countries to breach their pre-Doha bound rates of duty as part of a Special Safeguard Mechanism (another new regression in the Doha modalities)
Peter Gallagher is student of piano and photography. He was formerly a senior trade official of the Australian government. For some years after leaving government, he consulted to international organizations, governments and business groups on trade and public policy.
He teaches graduate classes at the University of Adelaide on trade research methods and the role of firms in trade and growth and tweets trade (and other) stuff from @pwgallagher