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This paper discusses the salient features of recent developments and outlines the prospects for trade policy by highlighting the main issues that will determine the scope and timing of liberalization under a possible new General Agreement on Tariffs and Trade (GATT) round of multilateral trade negotiations. As the more advanced developing countries acquire the skills and investments to diversify exports toward more sophisticated manufactured products, restrictions against them tend to multiply. These not only impede the export prospects of the developing countries directly affected, but also slow specialization and diversification, thus severely affecting the smaller developing country exporters. Across-the-board protectionist measures have been avoided in the industrial countries because it is widely acknowledged that trade restrictions and protectionism are inappropriate responses to exchange rate developments. Exchange rate movements reflect financial flows as well as trade flows, and the importance of exchange rates that correspond to underlying economic fundamentals is unquestioned.

Foreign trade policy --- Commercial policy --- 339.54 --- commerce mondial --- relations economiques internationales --- commerce exterieur --- gatt --- investissements etrangers --- pays en voie de developpement --- protectionnisme --- AA* / International - Internationaal --- LDC / Developping Countries - Pays En Développement --- 382.30 --- 382.32 --- 330.05 --- 382 --- International trade --- International trade policy --- Trade policy --- Economic policy --- International economic relations --- Buitenlandse economische politiek. Buitenlandse handelspolitiek. Instrumentarium van de buitenlandse handel --- wereldhandel --- internationale economische betrekkingen --- buitenlandse handel --- buitenlandse investeringen --- ontwikkelingslanden --- protectionisme --- Handels- en wisselpolitiek in hun verband met de buitenlandse handel: algemeenheden. --- Protectionisme. --- Government policy --- Working papers --- Commercial policy. --- 339.54 Buitenlandse economische politiek. Buitenlandse handelspolitiek. Instrumentarium van de buitenlandse handel --- Handels- en wisselpolitiek in hun verband met de buitenlandse handel: algemeenheden --- Protectionisme --- Investments: Commodities --- Exports and Imports --- Macroeconomics --- Taxation --- Agribusiness --- Trade Policy --- International Trade Organizations --- Trade: General --- Agriculture: General --- Price Level --- Inflation --- Deflation --- Agriculture: Aggregate Supply and Demand Analysis --- Prices --- International economics --- Public finance & taxation --- Investment & securities --- Agricultural law --- Imports --- Trade barriers --- Exports --- General Agreement on Tariffs and Trade --- Tariffs --- Taxes --- Commercial treaties --- Tariff --- United States

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handel, internationaal --- handelspolitiek, internationaal --- IMF --- Foreign trade policy --- 339.5 --- 339.542 --- 339.54 --- (100) --- $?$95/02 --- 336.748.8 IMF --- 337.3 GATT --- 339.5 Buitenlandse handel. Internationale handel. Ruilvoet --- Buitenlandse handel. Internationale handel. Ruilvoet --- Internationaal Monetair Fonds - IMF --- GATT --- Commercial policy --- Tariff --- Ad valorem tariff --- Border taxes --- Customs (Tariff) --- Customs duties --- Duties --- Fees, Import --- Import controls --- Import fees --- Tariff on raw materials --- Indirect taxation --- Revenue --- Customs administration --- Favored nation clause --- Non-tariff trade barriers --- Reciprocity (Commerce) --- International trade --- International trade policy --- Trade policy --- Economic policy --- International economic relations --- Government policy --- International Monetary Fund --- Internationaal monetair fonds --- International monetary fund --- Uruguay Round, 1987-1994 --- AA / International- internationaal --- 382.30 --- 334.81 --- NBB multivolumes --- Handels- en wisselpolitiek in hun verband met de buitenlandse handel: algemeenheden. --- Wereldhandelsorganisatie (WHO). Algemene overeenkomst voor handel en tarieven (GATT). --- concurrentie, internationaal --- Tarif douanier --- Politique commerciale --- Uruguay Round --- IMF. --- Handels- en wisselpolitiek in hun verband met de buitenlandse handel: algemeenheden --- Wereldhandelsorganisatie (WHO). Algemene overeenkomst voor handel en tarieven (GATT) --- International Monetary Fund.

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This paper contains further work by the Fund staff on trade issues and developments following the pattern of the surveys prepared in 1978 and 1981, mainly focusing on commercial policies of the major trading nations. It also includes a discussion of agricultural protection and issues relating to international trade in agricultural products.

Investments: Commodities --- Exports and Imports --- Macroeconomics --- Taxation --- Industries: Fashion and Textile --- Trade: General --- Trade Policy --- International Trade Organizations --- Agriculture: General --- Price Level --- Inflation --- Deflation --- Other Consumer Nondurables: Clothing, Textiles, Shoes, and Leather Goods --- Household Goods --- Sports Equipment --- International economics --- Investment & securities --- Public finance & taxation --- Apparel, garment & textile industries --- Imports --- Agricultural commodities --- Exports --- Import quotas --- Trade barriers --- International trade --- Commodities --- Farm produce --- Commercial policy --- United States