Published by:
Harvard Business Publishing
Length: 8 pages
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Abstract
The failure of the Uruguay Round of GATT talks should be an opportunity for the United States to change its tactics and approach to GATT. Since the Tokyo Round, the United States has been sacrificing its manufacturing sector in order to continue the talks. The United States was able to carry the burden of GATT in the past. But its strength has been transferred to Europe and Japan -- and they are unwilling to sacrifice national economic interests for the abstract virtue of "fairness." A new strategy is needed to help U.S. manufacturing regain prominence in the world marketplace.
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Abstract
The failure of the Uruguay Round of GATT talks should be an opportunity for the United States to change its tactics and approach to GATT. Since the Tokyo Round, the United States has been sacrificing its manufacturing sector in order to continue the talks. The United States was able to carry the burden of GATT in the past. But its strength has been transferred to Europe and Japan -- and they are unwilling to sacrifice national economic interests for the abstract virtue of "fairness." A new strategy is needed to help U.S. manufacturing regain prominence in the world marketplace.