Analysis on the Tariff Cut Formula in the WTO's Negotiation on Agriculture

Yoo Cheul Song and Ji Hyun Park
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Yoo Cheul Song: Korea Institute for International Economic Policy
Ji Hyun Park: Korea Institute for International Economic Policy

East Asian Economic Review, 1999, vol. 3, issue 4, 137-163

Abstract: The agricultural sector, which is Korea's most sensitive sector, is supposed to resume its negotiation by the end of 1999 according to WTO's Agreement on Agriculture. As Korea needs to propose in the negotiation of tariff reduction a device by which exceptional measures on sensitive sectors can be allowed, it is important to establish some application method of tariff cut in advance. As no specific form of tariff reduction has yet been established, this study tries to apply to agriculture different tariff cut methods proposed in the course of GATT/WTO negotiation and to analyze the merits and shortcomings of each form of tariff reduction. In this way, it will lay a strong foundation for designing a negotiation scheme that will give Korea a favorable position in future tariff negotiation. The results of study show that UR method is considered as the most favorable method for Korea. It is desirable for Korea to actively take initiatives in next negotiation by developing and proposing its own tariff reduction scheme that would probably result in the adoption of a form of tariff cut favorable to Korea.

Keywords: WTO Negotiation Agriculture; Tariff Cut (search for similar items in EconPapers)
JEL-codes: F12 F13 (search for similar items in EconPapers)
Date: 1999
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