Business / Agriculture / Agreement On Agriculture: The Uruguay Round Agreement on Agriculture reached in 1994 and implemented in U.S. law by the Uruguay Round Agreements Act of 1994 brings agricultural trade more fully under international trade rules and obligations. The Agreement provides for the conversion of quantitative barriers to trade to tariffs or tariff rate quotas, and for reductions in export subsidies and trade-distorting domestic support policies.
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Agreement Noun Synonyms: understanding, covenant, treaty, pact, accord, compact, settlement, concordat, contract, bargain, deal
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Business / Agriculture / Nontariff Barriers (NTB’s): Any restriction, charge, or policy other than a tariff, that limits access of imported goods. Examples of nontariff barriers include quantitative restrictions, mainly import quotas and embargoes: impo MORE
Business / Agriculture / World Trade Organization (WTO): The international organization established by the Uruguay Round of multilateral trade negotiations to oversee implementation of the General Agreement on Tariffs and Trade and the agreements arising fr MORE
Business / Agriculture / Section 22: A provision of permanent agricultural law (Agricultural Adjustment Act Amendment of 1935) that allows the President to impose import fees or import quotas to prevent imports from non-WTO member countr MORE