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The First Bilateral Investment TreatiesU.S. Postwar Friendship, Commerce, and Navigation Treaties$
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Kenneth J. Vandevelde

Print publication date: 2017

Print ISBN-13: 9780190679576

Published to Oxford Scholarship Online: April 2017

DOI: 10.1093/acprof:oso/9780190679576.001.0001

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Abandoning the International Trade Organization

Abandoning the International Trade Organization

Chapter:
(p.155) 4 Abandoning the International Trade Organization
Source:
The First Bilateral Investment Treaties
Author(s):

Kenneth J. Vandevelde

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780190679576.003.0005

The U.S. business committee criticized the modifications to the U.S.-proposed investment provisions in the Charter, asserting that the adoption of such provisions would undermine investment protection. At the final conference on the Charter in Havana, the U.S. delegation succeeded in removing much of the objectionable language, but the language ultimately adopted was still unacceptable to the business community. Faced with business opposition to the Charter, recognizing that trade liberalization was being achieved through the General Agreement on Tariffs and Trade (GATT) negotiated as an interim measure pending entry into force of the ITO Charter, and wanting Congress to focus on Cold War measures, the Truman administration withdrew the Charter from congressional consideration.

Keywords:   International Trade Organization, ITO, investment provisions, GATT, business opposition, Congress

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