§ Sir R. Russellasked the President of the Board of Trade how he intends to implement the undertakings given by Great Britain in the Kennedy Round negotiations.
§ Mrs. Gwyneth DunwoodyIt is intended to implement the tariff undertakings in four stages. Two-fifths of the reductions to the final rates of duty will be made on the 1st July, 1968, and will be the subject of an Order which will be made under the Import Duties Act, 1958, and laid before the House of Commons in May. The remaining three-fifths of the reductions will be made in equal instalments on the 1st January, 1970, 1971 and 1972 respectively.
The implementation of certain concessions on chemicals and unmanufactured tobacco is, however, subject to the prior enactment of legislation in the United States enabling the American Selling Price system of valuation to be eliminated as provided in the Agreement Relating Principally to Chemicals.
Our law and practice are already in general accord with the Anti-Dumping Code which was agreed in the Kennedy Round negotiations, but the Government intend to introduce a Bill giving the 198W Board of Trade power to take the provisional action permitted by the Code.
The United Kingdom also signed a Memorandum of Agreement on Cereals. This was subsequently incorporated in the International Grains Arrangement which has been signed by the United Kingdom subject to ratification, and will be laid before the House in due course.