Significance of the Current Talks
U.N. Conference on Trade and Development
Trade is among the most crucial elements of today's global marketplace, and among the most complex. The give-and-take bartering of years gone by has been replaced by a vastly complicated international system of tariffs, quotas, taxes, duties, subsidies, cartels and commodity agreements that have made world trade almost incomprehensible to most Americans. But this year several international negotiations are under way that could have a profound and lasting effect on the conduct of world trade—and on the American economy.
“We are—this year—in the midst of what may well be the most extensive series of international negotiations on trade, finance, commodities and development in history—involving more nations, addressing more issues, and affecting more people than ever before,” ...