Understanding Reciprocity in WTO Tariff Negotiations

The chapter delves into the concept of reciprocity within the WTO, focusing on how countries seek balanced import and export volumes through tariff changes. It discusses the reasons behind countries imposing tariffs for domestic purposes and how reciprocity enables renegotiation of commitments while following GATT WTO rules. The chapter also explores the role of market power in tariff setting among countries and the impact of joining the WTO on reducing tariffs and market power.