Imperial Preferences Arrangement

Imperial preferences arrangement in Global Commerce Policy

In this regard, imperial preferences arrangement is: established formally at the 1932 Ottawa Imperial Conference, but discussed seriously at imperial conferences at least since 1917. The entries on trade policy are here. It was of course a factor in British politics much earlier. The basic feature of the arrangement was that pairs of countries making up the British Empire at the time exchanged reciprocal trade preferences. The United Kingdom was a party to the agreements in most cases. The arrangement became a target of United States commercial policy at the time of the drafting of the Atlantic Charter in 1941, and again in Article 7 of the mutual aid agreement between the United Kingdom and the United States of 1942. The Article sought “the elimination of all forms of discriminatory treatment in international commerce”. When the GATT entered into force in 1948, it prohibited an increase in all margins of preference. This ceiling, combined with negotiated tariff reductions under the GATT, ensured that preference margins were soon eroded. Some remain in existence, and they are usually defended vigorously by those enjoying them. The increasing use of the term “British Commonwealth of Nations” in the inter-war years also led to the more widespread use of Commonwealth preferences instead of Imperial preferences. The modern Commonwealth has not had any role in the arrangement. See also historical preferences and preferential trade arrangements.[1]

Imperial preferences arrangementin the wold Encyclopedia

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

Resources

Notes and References

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

See Also