The Uruguay cycle began in 1986. It was the most ambitious cycle to date that hoped to extend GATT`s jurisdiction to important new areas such as services, capital, intellectual property, textiles and agriculture. 123 countries participated in the cycle. The Uruguay Round was also the first round of multilateral trade negotiations in which developing countries played an active role.  Recognising that their trade relations and economic efforts should be conducted with the aim of improving living standards, ensuring full employment and effective real income and demand, developing the full use of global resources and increasing the production and exchange of goods, the result was an average reduction in tariffs of 35% , excluding textiles, chemicals, steel and other sensitive products; In addition to a 15% to 18% reduction in tariffs on agricultural and food products. In addition, the chemical negotiations resulted in an interim agreement on the abolition of the US selling price (ASP). This was a method of assessing certain chemicals used by these countries for the institution of import duties, which gave domestic producers a much higher level of protection than indicated under tariff conditions. GATT held eight meetings between April 1947 and December 1993. Each of the conferences has had significant successes and results.
Anti-dumping legislation Laws protecting domestic importers that can prove that products imported abroad are “dumped” in the domestic market. protect domestic import competitors, which can demonstrate that products imported abroad are “dumped” in the domestic market. Since dumping is often considered an unfair business practice, anti-dumping law is referred to as an unfair trade law. Dumping is defined in different ways. Dumping usually means selling a product at an unfair or less reasonable price. In particular, dumping is defined as (1) sales in a foreign market at a price below the domestic market, (2) sales in a foreign market at a price below the average cost of production, or (3) where there are no domestic sales, sales in a foreign market at a price below the price calculated in another foreign market. The percentage to be increased to obtain a fair or reasonable price is considered a margin of dumping. For example, if a company sells its product at $12 in its home market but sells it for $10 in a foreign market, the dumping margin is 20%, since a price increase of $20 is increased to $12. The fifth cycle was held again in Geneva and lasted from 1960 to 1962.
The discussions were named after U.S. Treasury Secretary and former Undersecretary of State Douglas Dillon, who first proposed the talks. Twenty-six countries participated in the cycle. In addition to reducing tariffs by more than $4.9 billion, it has also led to discussions on the creation of the European Economic Community (EEC). Canada has also developed its own share of import restrictions on cereals and dairy products and poultry products, as well as export subsidies for certain dairy products and eggs to eliminate surpluses. As a result, early exclusions and GATT exemptions have led to a maze of restrictions on agricultural imports and export subsidies that have since plagued world production and trade in these production lines (see protectionism). Protection laws (also known as leakage clauses) Laws that protect domestic importing companies that suffer from increased imports. (1) that the increase in imported products has resulted in disruptions to the market of a given product and (2) that the increase has resulted in or threatens to cause significant damage to domestic importers. The use of the concept of serious injury means that the injury must be more serious than that caused by the AD and Antisubventions cases.