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General Agreement on Tariffs and Trade: Uruguay Round Final Act Should Produce Overall U.S. Economic Gains (Volume 1)

GGD-94-83A Published: Jul 29, 1994. Publicly Released: Jul 29, 1994.
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GAO reviewed the Uruguay Round of negotiations of the General Agreement on Tariffs and Trade (GATT), focusing on the: (1) negotiating objectives for the round; and (2) projected impact of the Final Act on the agreement.


Matter for Congressional Consideration

Matter Status Comments
If Congress approves legislation to implement the Final Act, it may wish to ensure that an effective worker adjustment assistance program is in place to facilitate the structural adjustment that would be needed in the workplace.
Closed – Implemented
Congress passed legislation in August 1998, The Workforce Investment Act (Public Law 105-220), to overhaul and streamline worker adjustment assistance, as GAO recommended.
In deciding whether to approve implementing legislation, Congress should consider ways to offset the projected tariff revenue losses to ensure deficit neutrality over the first 5 years as required by the Budget Enforcement Act.
Closed – Implemented
The Administration and Congress are attempting to agree on a package of budget offsets.

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