Abstract
Chemical industry trade experts are generally pleased with the market access package, including tariff cuts, that negotiators unveiled last week in Tokyo at the G-7 (Group of Seven) summit meeting of industrialized nations. Negotiators represented the world's top four trade entities—the U.S., Canada, Japan, and the European Community (EC). K. James O'Connor Jr., associate director of international trade for the Chemical Manufacturers Association (CMA), says he is now optimistic that the sevenyear-old Uruguay round of multilateral trade negotiations can be completed by the Dec. 15 deadline required under U.S. fast track legislation. Without the G-7 market access package, says O'Connor, the Uruguay round would have been dead. Many trade experts share his opinion. Negotiations now can resume in Geneva under the auspices of the General Agreement on Tariffs & Trade (GATT). President Bill Clinton calls the market access deal a breakthrough, freeing the logjam in the Uruguay round, and promising more jobs an...
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