World Trade Organization - Torquay Round
Time: Sep, 1951
Place: Torquay, England, United Kingdom
Details: The Torquay Round was a multi-year multilateral trade negotiation (MTN) between nation-states that were parties to the GATT. This third round occurred in Torquay, England in 1951. Thirty-eight countries took part in the round. 8,700 tariff concessions were made totaling 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.
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