The Tokyo Round was a multi-year multilateral trade negotiation (MTN) between 102 nation-states that were parties to the

GATT The General Agreement on Tariffs and Trade (GATT) is a legal agreement between many countries, whose overall purpose was to promote international trade by reducing or eliminating trade barriers such as tariffs or quotas. According to its pre ...

. The negotiations resulted in reduced tariffs and established new regulations aimed at controlling the proliferation of non-tariff barriers (NTBs) and voluntary export restrictions. The aim was further to harmonise government policies. Concessions were made on $19 billion worth of trade, and were scheduled to enter effect over eight years from 1980. The Tokyo Round concluded in April 1979. The Tokyo Round was held to be "the most comprehensive of all the seven rounds of negotiations held within the GATT since its founding in 1948." One novelty was that it covered bovine meat and

dairy products Dairy products or milk products, also known as lacticinia, are food products made from (or containing) milk. The most common dairy animals are cow, water buffalo, nanny goat, and ewe. Dairy products include common grocery store food items in ...

. The agricultural sector was a focus. Developing countries were given more say in this round than had been the case in past MTNs.

References

{{reflist World Trade Organization General Agreement on Tariffs and Trade Commercial treaties Treaties concluded in 1980