GATT AT A GLANCE

TARIFFS

Slashes border taxes by an average of 38 percent worldwide on products including food, electronics, cars and clothing. The Clinton administration has said this represents the largest tax cut in history, a reduction globally of $744 billion.

AGRICULTURE

Reduces government supports to farmers that cost taxpayers in wealthy countries an estimated $160 billion annually. U.S. farmers hope it will make their products more competitive on overseas markets.

TEXTILES

Phases out quotas erected by the United States and other wealthy industrialized countries to limit imports from developing nations over a 10-year period. The quotas would be replaced in some cases by tariffs.

INTELLECTUAL PROPERTY

Establishes new rules to clamp down on theft of copyrights and patents, protect manufacturers and consumers against fake products, and encourage new inventions through better patent protection.