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Industrial Products Essay

U. S. A and E. U. which came into conflict in agri-subsidies came together in the Industrial Products. They made Import duties come down to 0-5%. They have no fear that, from the poor countries also Industrial goods come because they have confidence on the industrial growth of them. The countries which haven’t crossed the primary level of Industrial growth are putting more Import duties. This is must to safeguard local industries. For decrease of import duties on industrial products U. S. A. and E. U.

are demanding to the ‘Swiss Formula’. If use this formula there will be no difference of poor or rich countries should stand on one rate of duty and every one should have same custom duty. According to this developing countries have to decrease 95% import duties and it is sufficient for developed countries to decrease up to 33%. There is no need to say again that ‘Swiss Formula’ helps developed countries. Third world countries join W. T. O. because there will be some relaxations in the resolutions.

And in the Doha Round also this was the primary agenda. For that reason only this round got the name Development Round. But the Swiss Formula which is in

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favor of development countries is undermining this. Keeping the countries which are industrially developed countries two decades earlier and the countries who are still depended on agriculture more on same line is nothing but cheating. In initial days of development of industries developing countries need to give encouragement. They need to be protected from huge imports.

For that developed countries need to give help economically and make sure that duties on import are huge to protect form the technologically developed countries imports. Until the local industries get stabilized we need to implement this strategy is necessary. With this protection in the initial stages any country cannot develop industrially. This strategy was followed by the U. S. A and European countries. America also evidenced drastic results this in mid 1847-61 where it allowed free trade and later again brought back import duties again.

“Instead we need a clear and non-negotiable sliding scale of trade privileges. The very poorest nations should be permitted, if they wish, to fully protect their infant industries, just as Britain did during the early days of the industrial revolution or the US between 1789 and 1913. As they become richer, they would be forced to gradually drop these protections. The very poorest countries should also be allowed free use of rich countries’ intellectual property, for trade within their own borders and with other poor nations. ” https://www.theguardian.com/environment/2003/sep/08/wto.fairtrade6

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