Tokyo Round

The Tokyo Round was a multi-year multilateral trade negotiation (MTN) between 102 nation-states that were parties to the GATT. The negotiations resulted in reduced tariffs and established new regulations aimed at controlling the proliferation of non-tariff barriers (NTBs) and voluntary export restrictions. The aim was further to harmonize government policies. Concessions were made on $19 billion worth of trade, and were scheduled to enter effect over eight years from 1980. The Tokyo Round concluded in April 1979.