Linear tariff cuts
Linear tariff cuts: also known as formula approach. These are tariff cuts of equal magnitude, usually expressed in percentage points, across whole classes of products. They were first introduced formally into multilateral trade negotiations during the Kennedy Round (1963-67), but the EEC's initial offer in the Dillon Round (1960) also envisaged them. The
Source: http://ctrc.sice.oas.org/trc/WTO/Documents/Dictionary%20of%20trade%20%20policy%20terms.pdf
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Author of the text: W. Goode
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