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TeachMeFinance.com - explain Uruguay Round Agreements (URA) Act of 1994 Uruguay Round Agreements (URA) Act of 1994 The term 'Uruguay Round Agreements (URA) Act of 1994 ' as it applies to the area of agriculture can be defined as 'P.L. 103-465 (December 8, 1994) approved and implemented the trade agreements concluded in the Uruguay Round of multilateral trade negotiations conducted under the auspices of the GATT, including the Agreement on Agriculture, the Agreement on Sanitary and Phytosanitary (SPS) Measures, and the Agreement on Technical Barriers to Trade (TBT). The law allowed for the reduction of tariffs and government subsidies on agricultural products and prohibits the use of Section 22 fees and quotas with respect to products imported from WTO members. The law also extended the authorization of funding for the Export Enhancement Program (EEP) and Dairy Export Incentive Program (DEIP) through 2001 and eliminated the requirement that the EEP be targeted to respond to unfair trade practices. The law eliminated the requirement that the Market Promotion Program be used to counter the adverse effects of unfair trade practices. The law also included a Sense-of-Congress resolution that the President should consult with other nations to discuss appropriate levels of food aid commitments to developing countries'. Previous 5 Terms: ursiform ursine urticaceous urubu Uruguay Round Next 5 Terms: USAA Usable storage capacity USACE (sometimes shortened to USCE in EIA tables) USAHA USAID About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2005-2011 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional medical, legal or financial advice. Information presented at TeachMeFinance.com is provided on an "AS-IS" basis. Please read the disclaimer for details.