Initial negotiating right
Initial negotiating right: INR. The right of a WTO member to ask for tariff concessions by another member in a WTO negotiating round even though it is not the principal supplier. INRs are valuable negotiating tools for countries with important trade interests in a product or commodity, though these rights no longer hold the importance they once had in trade negotiations. The question of who has initial negotiating rights does not arise in the case of linear tariff cuts because all participants agree to cut tariffs on specified product categories by the same percentage rate, regardless of their importance to any given trading partner. It may, however, come up in subsequent bilateral negotiations. WTO members have therefore agreed to create so-called floating initial negotiating rights. These are initial negotiating rights that would be enjoyed by members having principal supplier rights at the time of the renegotiation of a tariff item that had earlier been subject to linear cuts. Such initial negotiating rights are called "floating" because they remain hypothetical until a concrete case arises. See also principal supplying interest and principal supplier rule.
Source: http://ctrc.sice.oas.org/trc/WTO/Documents/Dictionary%20of%20trade%20%20policy%20terms.pdf
Web site to visit: http://ctrc.sice.oas.org
Author of the text: W. Goode
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