The draft agreement contains many sensible new rules for global trade （covering,for instance,the settlement of disputes，the protectionist use of technical standards, anti-dumping measures,subsidies,countervailing duties,government procurement and many other implicit barriers to trade). To promote trade and innovation,it offers new safeguards to owners of intellectual property. It brings trade in services into the GATT for the first time,opening new foreign markets to efficient producers of services in America and Europe. America's ambitious early goals for farm-trade liberalization will not be fully met by the compromise that is now within reach;but even in farming,a half-successful round will deliver great benefits. And if this package can be banked,future rounds will be obliged to argue over how much to cut farm protection,not whether-an achievement in itself.