A Brief History of the World Trade Organization (2/2)

The sixth round began in 1963. It was called the Kennedy Round after the murder of President John F. Kennedy. The results included an agreement against trade dumping. This is when one country sells a product in another country at an unfairly low price.

The eighth round of talks began in Punta del Este, Uruguay, in 1986. The Uruguay Round lasted almost twice as long as planned. In all, 123 nations took part in seven-and-a-half years of work. They set time limits for future negotiations. They also agreed to create a permanent system to settle trade disputes.

In April of 1994, most of those 123 nations signed an agreement. It replaced GATT with the World Trade Organization.

The W.T.O. launched a new round on development issues in Doha, Qatar, in November of 2001. These talks were supposed to end by January of 2005. But negotiators could not agree on issues involving agricultural protections. The current round has been suspended since last July.