| Abstract: | The Kennedy Round, concluded in 1967, ws the most far-reaching in the series of trade negotiations. The United States insisted on the inclusion of agricultural products, with the support of other foodexporting countries. The results for agriculture should not be underestimated. The agreement on cereals gave practical recognition of joint responsibility in food aid. There were also many agricultural tariff concessions. However, it is domestic agricultural policies, not tariffs, which really hamper agricultural trade. The cost of these policies and the extent to which they achieve their objectives are questionable. Competition becomes fiercer for the remaining accessible markets, and export subsidies multiply. The Kennedy Round left the basis problems untouched. It did, however, strengthen the “global” or comprehensive, multilateral approach. |
