Dillon Round: 1960–62

The Dillon Round was a multi-year multilateral trade negotiation (MTN) between 26 nation-states that were parties to the GATT. The fifth round in the GATT occurred in Geneva and lasted from May 1959 through July 1962. The talks were named after U.S. Treasury Secretary and former Under Secretary of State, Douglas Dillon, who first proposed the talks. Along with reducing over $4.9 billion in tariffs with about 4,400 item-by-item cuts, it also yielded discussion relating to the creation of the European Economic Community (EEC).