Historical Preferences

Historical preferences in Global Commerce Policy

In this regard, historical preferences is: in the WTO framework this refers to benefits under preferential trade arrangements in existence before the GATT entered into force on 1 January 1948. Such arrangements were allowed to continue even though they contravene most-favoured-nation treatment, but under Article I of the GATT (General Most-Favoured-Nation Treatment) the maximum margin of preference cannot be increased. The imperial preferences arrangement is one example of historical preferences. The value of historical preferences decreased steadily as most-favoured- nation tariffs came down.[1]

Historical preferencesin the wold Encyclopedia

For an introductory overview on international trade policy, see this entry.

Resources

Notes and References

1. Dictionary of Trade Policy, “Historical preferences” entry (OAS)

See Also