AGRICULTURE

The Agreement would eliminate barriers and increase access for U.S. exports across a broad range of commodities. Commitments include:

Significant cuts in tariffs that will be completed by January 2004. Overall average for agricultural products will be 17.5 percent and for U.S. priority products 14 percent (down from 31 percent).

Establishment of a tariff-rate quota system for imports of bulk commodities, e.g., wheat, corn, cotton, barley, and rice, that provides a share of the TRQ for private traders. Specific rules on how the TRQ will operate and increased transparency in the process will help ensure that imports occur. Significant and growing quota quantities subject to tariffs that average between 1-3 percent.

Immediate elimination of the tariff-rate quota system for barley, peanut oil, sunflower-seed oil, cottonseed oil, and a phase-out for soybean oil.

The right to import and distribute products without going through a state-trading enterprise or......

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Title: U.S.-China Bilateral Wto Agreement
Approximate Word Count: 2010
Approximate Pages: 9 (250 words per double-spaced page)

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