CHAPTER NINE

CHAPTER NINE - International Trade Law Chapter 9 CHAPTER...

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International Trade Law Chapter 9 CHAPTER NINE GATT LAW AND THE WORLD TRADE ORGANIZATION: BASIC PRINCIPLES I. Introduction A. Imports Barriers to Trade 1. Trade Barrier - any impediment to trade in goods or services 2. Import Trade Barrier - any impediment, direct or indirect, to the entrance or sale of imported goods or services existing in the country of importation a. Usually refers to laws or gov’t regulations that male selling foreign-made goods more difficult or costly than domestic-made goods b. The term may also include many other non-legal factors that discourage the sale or purchase of imported products 3. “Trade wars” can erupt due to nations being unable to negotiate agreements to resolve disputes over their products B. Anatomy of a Trade War: Auto Parts to Japan C. Reasons (political and economic) for Regulating Imports 1. Collection of revenues (taxing imports) 2. Regulation of import competition (the protection of domestic industry, agriculture, or jobs) 3. Retaliation against foreign gov’t trade barriers 4. Implementation of foreign policy (prohibition on allowing the imports of goods from a country that violates int’l norms or is a military adversary) 5. Implementation of national economic policies (preservation of foreign exchange; industrial policy implemented) 6. Protection of national defense 7. Protection of natural resource or the environment 8. Protection of public health, safety, morals, and the plant and animal life 9. Protection of local cultural, religious, or ethic values II. Imports Trade Barriers A. Tariffs (import duty)- a tax levied on goods by the country of importation J. Duong 1
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International Trade Law Chapter 9 1. Usually computed as: a. Ad valorem tariffs - the percentage of value; goods that vary in value (chairs, specialized steel, etc.) b. Specific or Flat Tariffs - the basis of physical units; fungible goods (crude oil, wheat, etc.) 2. Tariffs are usually considered the “least” restrictive types of trade barriers B. Non-Tariffs Barriers to Trade 1. Consist of a direct and indirect trade barriers 2. Direct non-tariffs barriers include: a. Embargoes b. Quotas c. Auctioned quotas d. Tariff-rate quotas 3. Indirect Trade Barriers include: a. Laws b. Administrative regulations c. Industrial or commercial practice d. Social/cultural forces C. Direct Non-Tariffs Barriers to Trade 1. Embargo - can be a complete ban on trade or trade with a certain nation. Also the ban on the sale or transfer of specific products and technology; the most restrictive of the direct non-tariff barriers a. Usually reserved for political purposes b. To implement such foreign policy objectives, such as to “punish” another country
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CHAPTER NINE - International Trade Law Chapter 9 CHAPTER...

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