The Kennedy Round: Trade Liberalization and the GATT

Introduction

The Kennedy Round was the second round of multilateral trade negotiations under the General Agreement on Tariffs and Trade (GATT). It was held from 1964 to 1967 and involved 49 countries.

Achievements

The Kennedy Round achieved significant reductions in tariffs, particularly on industrial goods. It also established a new framework for the negotiation of non-tariff barriers to trade.

Impact

The Kennedy Round had a major impact on the global trading system. It helped to boost trade volumes and economic growth, and it laid the foundation for further trade liberalization.