The Torquay Round was a multi-year multilateral trade negotiation (MTN) between 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 ...

. This third round occurred in

Torquay Torquay ( ) is a seaside town in Devon, England, part of the unitary authority area of Torbay. It lies south of the county town of Exeter and east-north-east of Plymouth, on the north of Tor Bay, adjoining the neighbouring town of Paignt ...

England England is a country that is part of the United Kingdom. It shares land borders with Wales to its west and Scotland to its north. The Irish Sea lies northwest and the Celtic Sea to the southwest. It is separated from continental Europe ...

in 1951. Thirty-eight countries took part in the round. 8,700 tariff concessions were made totalling the remaining amount of tariffs to ¾ of the tariffs which were in effect in 1948. The contemporaneous rejection by the U.S. of the Havana Charter signified the establishment of the GATT as a governing world body.Michael Hudson, ''Super Imperialism: The Origin and Fundamentals of U.S. World Dominance'', 2nd ed. (London and Sterling, VA: Pluto Press, 2003), 258.

References

{{reflist World Trade Organization General Agreement on Tariffs and Trade Commercial treaties Treaties concluded in 1951