A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

FLOATING INITIAL NEGOTIATING RIGHTS

Fixed INRs are determined when a concession is negotiated bilaterally between two WTO Members. When concessions were offered using a tariff cutting formula (e.g. Kennedy or Tokyo rounds) there was no bilateral negotiation and therefore no exchange of INRs. In such cases, INRs were held by the principal supplier for a given item and market. When the issue arose, the principal supplier was determined from the last three years for which import statistics were available. Such INRs are called "floating" INRs.

See also INITIAL NEGOTIATING RIGHT (INR) and HISTORICAL INITIAL NEGOTIATING RIGHTS