Upload
raga-jothi
View
219
Download
1
Tags:
Embed Size (px)
DESCRIPTION
trade
Citation preview
International Trade
What is international trade?imports, exportsforeign investmentWTO, NAFTA, EUand, potentially, everything else
Trade termsDumping -- selling imports into a domestic market at a price lower than the cost of production in the country of originless than fair value (LTFV)Tariff --A fee (or duty) levied upon goods transported from one customs area to another Trade subsidies -- government payments or other benefits to producers that make their prices unfairly lowCountervailing duties extra fee levied by importing country to counter unfair subsidy
Legal frameworkmost countries members of WTOmany countries also have bilateral or regional trade agreementstrade agreements generally have dispute resolution mechanismstrade obligations may affect/supplant national law
WTO historyBegan in 1995, built on GATTGATT began in 1947. GATT intended as tariff-cutting agreement.Rounds are series of negotiations intended to cut tariffs.
3 main principles of GATT/WTOconvert all trade barriers to tariffstransparenteasier to administer most-favored-nation (MFN) any favorable trade treatment must be given to all members national treatmentimports treated equally with domestic
WTO: 6 componentstrade in goods 1994 GATT agreement all boundproduct standards all boundGATS trade in servicesnot all boundTRIPs all boundplurilateral agreements (e.g., govt procurement) some bounddispute resolution all bound
WTO structureMinisterial Body (meets every 2 years; e.g., Seattle)General Council main governing bodySecretariat permanent professional staff
WTO dispute resolution processrequest for consultations = complaintpanelappellate body (appeals routine)loser must bring itself into complianceif not, winner can retaliate
Regional Trade Agreements (RTAs); Free Trade Agreements (FTAs)permitted by WTO multilateral or bilateral important because of stalled progress on Doha roundUS aggressively pursuing
NAFTAearlier CFTA (US-Canada)decreases, then removes tariffsAnti-dumping, countervailing duty disputes (Chapter 19) arbitration before bi-national panelsinvestment disputes (Chapter 11)ICSID arbitration, UNCITRAL
Researching WTO lawJeanne Rehbergs guide:http://www.law.nyu.edu/library/research/researchguides/wtogattresearch/index.htmASILs Elec. Res. Guidetreatises for background, concepts, detailsWTO siteUSTR site for US perspective
WTO sitedocuments from 1995 (selected older documents)treatiesWTO Analytical Index Guide to WTO Law and Practice (travaux and interpretation)reports, news, statistics
WTO Analytical Index
WTO Analytical Indexfind decisions by treaty article
WTO site: Documents Onlineaccessible from Trade Topics with drop-down menusbrowse or searchdocument symbol: e.g., G/SCM/59/Add.2 document number: e.g., 04-4872
WorldTradeLaw.netpart free, part subscriptionsearch engine for WTO docseasier to download WTO docsexpert commentary, index
TradeLawGuidecitator for WTO panel and AB decisionsinterprets key termsWTO jurisprudence by treaty, article
Tariff schedulesUS Harmonized Tariff ScheduleUS International Trade Commission siteWTO site schedule of concessionsnational trade department sites
Other resourcesWestlaw, LexisWTO panel and AB decisionsNAFTA decisionstreatiesGATT documents Stanford http://gatt.stanford.edu/bin/search/simpleBNAs International Trade Reporter
*********************