Download or read book The Economics of Permissible WTO Retaliation written by Chad P. Bown and published by . This book was released on 2010 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: WTO arbitrators rely on economics to establish the permissible retaliation limits authorized by the Dispute Settlement Understanding (DSU) which arguably serves to enforce the overall agreement. We examine how theoretical and quantitative economic analysis has and can be used in this stage of the DSU process. First, we identify, characterize, and categorize the major classes of disputes - e.g., those affecting import protection versus export promotion - and use the Bagwell and Staiger interpretation of the WTO principle of reciprocity to provide a theoretical framework that arbitrators can use to identify the maximum level of retaliatory countermeasures. Second, we allocate each of the ten DSU arbitrations that have taken place thus far into one of these categories and compare the arbitrators' actual approach with the theory. Third, we use this framework to identify three crucial elements to the arbitrators' decision-making process for each case: i) the formula that they decide to adopt for identifying appropriate countermeasures, ii) their political-legal-economic decision on a WTO consistent counterfactual to use to implement the formula, and iii) the quantitative methods they use to necessarily construct the (unobserved) WTO-consistent counterfactual. We examine not only the arbitrations that have taken place thus far, but our approach also illustrates a template for many additional types of arbitrations likely to take place under the DSU. Finally, in the disputes in which this reciprocity approach has not been used, we identify procedural difficulties that arbitrators confront thus highlighting the constraints that hinder their use of economic analysis in practice.
Download or read book The Economics of Permissible WTO Retaliation written by Chad P. Brown and published by . This book was released on 2008 with total page 51 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Law Economics and Politics of Retaliation in WTO Dispute Settlement written by Chad P. Bown and published by Cambridge University Press. This book was released on 2010-01-07 with total page 693 pages. Available in PDF, EPUB and Kindle. Book excerpt: A critical assessment of trade retaliation in the WTO by academics, diplomats and practitioners involved in such actions.
Download or read book WTO Retaliation written by Michelle Limenta and published by Bloomsbury Publishing. This book was released on 2017-02-23 with total page 203 pages. Available in PDF, EPUB and Kindle. Book excerpt: The central point of this book concerns three main issues: the problems of WTO retaliation, the question of the effectiveness of retaliation, and the purposes of retaliation. WTO retaliation is often deemed ineffective due to its inherited shortcomings. This book highlights the significance in identifying the purposes of retaliation prior to evaluating its effectiveness. Put differently, it refers to the purpose-based approach of effectiveness. It is a common understanding that the purpose of WTO retaliation is to induce compliance. This book, nevertheless, argues in favour of coexistence of the multiple purposes of retaliation, including reaching a mutually agreeable solution. These views are based on the extensive research conducted on the purposes of WTO retaliation, namely through interpreting Article 22 of the DSU; examining the remedies rules within the frameworks of public international law, and law and economics; and assessing the academic writings/debates as well as the statements of arbitrators. Finally, by evaluating a number of disputes involving WTO retaliation, this book demonstrates the reasonableness and soundness of WTO retaliation in light of its multiple purposes.
Download or read book WTO Retaliation written by Michelle Engel Limenta and published by . This book was released on 2014 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Retaliation in the WTO Dispute Settlement System written by Sherzod Shadikhodjaev and published by Kluwer Law International B.V.. This book was released on 2009-01-01 with total page 314 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This work provides in-depth legal analysis of the procedural and substantive aspects of retaliation under the WTO dispute settlement system with particular reference to relevant rules and case law. It identifies peculiarities of WTO retaliation as compared with countermeasures of general international law. It examines the retaliation regime under GATT 1947 and the Dispute Settlement Understanding, as well as the special retaliation regime under the Subsidies and Countervailing Measures Agreement. It includes a case study with respect to the calculation of the level of retaliation in Article 22.6/4.11 arbitration. Finally, it explores the gaps in the current retaliation system with regard to both procedural Issues and the matter of efficacy, and analyzes all relevant solutions. In sum, this book Is designed to examine the way the WTO retaliation system works and explore possible Improvements." --Book Jacket.
Download or read book Tariff Retaliation Versus Financial Compensation in the Enforcement of International Trade Agreements written by Nuno Limão and published by World Bank Publications. This book was released on 2006 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The authors analyze whether financial compensation is preferable to the current system of dispute settlement in the World Trade Organization that permits member countries to impose retaliatory tariffs in response to trade violations committed by other members. They show that monetary fines are more efficient than tariffs in terms of granting compensation to injured parties when there are violations in equilibrium. However, fines suffer from an enforcement problem since they must be paid by the violating country. If fines must ultimately be supported by the threat of retaliatory tariffs, they fail to yield a more cooperative outcome than the current system. The authors also consider the use of bonds as a means of settling disputes. If bonds can be posted with a third party, they do not have to be supported by retaliatory tariffs and can improve the negotiating position of countries that are too small to threaten tariff retaliation. "--World Bank web site.
Download or read book Trade Retaliation in WTO Dispute Settlement written by Chad Brown and published by . This book was released on 2018 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: It is hard to think of a better topic for multi-disciplinary study than trade retaliation in the WTO. When a country violates WTO rules, the remedy of last resort is bilateral, state-to-state trade sanctions. Such trade sanctions are imposed against the violating country by one or more other WTO members that took the initiative to challenge the breach. WTO retaliation must, however, be multilaterally authorized by the WTO following, first, an elaborate procedure establishing (continued) breach in the first place and, second, an arbitration on whether the retaliation is 'equivalent' or 'appropriate' in light of the harm caused by the original violation. This is where the law comes in: Arbitrators must apply legal criteria to assess the harm caused by a WTO violation, select benchmarks and counterfactuals to do so, as well as decide, where requested, on whether the conditions for so-called cross-retaliation are met (that is, retaliation in the form of, for example, suspending intellectual property rights in response to a WTO-inconsistent import restriction). This process obviously involves economics as well, both economic theory (what is the role of violation-cum-retaliation in an incomplete contract?; what is the optimal design of remedies for breach of contract?) and applied or quantitative economics (how does one calculate lost trade, lost royalties or other economic harm caused by a WTO violation?; how does one make sure that the retaliation in response is 'equivalent'?). Finally, the design, implementation and effectiveness of WTO retaliation is deeply political, ranging from the decision of whether to retaliate in the first place (especially salient in developing countries) to selecting specific products to retaliate against (e.g. with a view to compensate or protect domestic, import-competing industries at home, say, Mexico keeping out US corn syrup to please Mexican cane sugar producers; or, alternatively, to exert maximum political pressure in the violating country, say, the EC restricting Florida orange juice to affect US President Bush's re-election chances in 2004).
Download or read book Crimes and Punishments Retaliation under the WTO written by Robert Z. Lawrence and published by Peterson Institute. This book was released on 2003 with total page 134 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Peculiarities of Retaliation in WTO Dispute Settlement written by Kym Anderson (economics) and published by . This book was released on 2002 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Crimes Punishments written by Robert Z. Lawrence and published by Peterson Institute for International Economics. This book was released on 2003 with total page 140 pages. Available in PDF, EPUB and Kindle. Book excerpt: One of the unique aspects of the WTO as an international organization is that it authorizes members to retaliate against violations by raising tariffs. These authorizations have become increasingly common and increasingly controversial. In this analysis of the retaliation system, Robert Lawrence considers the guiding principles that govern responses to WTO violations, examines how these principles are implemented in practice, and considers options for reform.
Download or read book US Trade Policy China and the World Trade Organisation written by Nerina Boschiero and published by Taylor & Francis. This book was released on 2023-06-05 with total page 184 pages. Available in PDF, EPUB and Kindle. Book excerpt: The last few years have been "anni horribiles" for in International Economic Law in general and in particular for the World Trade Organization, since its inception in 1995 the guarantor of the world multilateral trade system. The increasing trade tensions, a high level of US security tariffs on steel and aluminium, the US boycott of the WTO Appellate Body, the US-China "trade war" and the reasons underlining it, only aggravated a disastrous world-wide economic situation at a time of tremendous global health and societal emergency, due to the persistent devastating spread of the COVID-19 pandemic. The book critically discusses the most salient past US administration’s unilateralist and protectionist practices. At the same time investigating the new Biden Administration’s trade approaches in order to assess whether the precedent trade trajectory is likely to continue, or there is hope of reviving the US commitment to the rule-based multilateral trading system. The book’s goal consists in distilling from current legal events the reasoning that might help the next generations in obtaining what the world needs most. These are a conscious and voluntary return to multilateralism, the search of new forms of effective global cooperation, better trade policies, a more equitable globalization, sound legal arguments, and solid economic reasons to combat rising nationalisms. If enacted, these elements hopefully would contribute to defeat new risks of political conflicts and long-lasting "trade wars". The book will be helpful to students and scholars in international and trade law, political science, and also professionals working in international and EU institutions.
Download or read book Public Private Partnership for WTO Dispute Settlement written by Amrita Bahri and published by Edward Elgar Publishing. This book was released on 2018 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt: Public Private Partnership for WTO Dispute Settlement is an interdisciplinary work examining the growing interaction between business entities and public officials. Crucially, it identifies how this relationship can enable developing countries to effectively utilize the provisions of the World Trade Organization Dispute Settlement Understanding (WTO DSU).
Download or read book EU Liability and International Economic Law written by Armin Steinbach and published by Bloomsbury Publishing. This book was released on 2017-06-01 with total page 213 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book provides both a legal and economic assessment of an increasingly important issue for the EU: the question of whether individuals can hold the European Union liable for damages they suffer due to its infringement of international economic law. However, liability regimes vary depending on the issue concerned. In international trade law the individual holds a weak position, being deprived of both legal remedies to seek annulment and damages. This is due to the constant refusal of the direct effect of WTO law. By contrast, international investment law has been designed in an 'individualistic' manner from the outset – states agree reciprocally to grant certain procedural and substantial individual rights, which they invoke to claim damages before international tribunals rather than domestic courts. The divergent role of the individual in the respective area of international economic law leads to a different set of research questions related to liability. In international trade law, the doctrinal exercise of de-coupling the notion of direct effect from liability is at the core of establishing liability. In international investment law, liability is connected to a number of issues emerging from the recent transfer of competence pertaining to investment issues from Member States to the EU and the nature of investment agreements as mixed agreements. Against this backdrop, exploring liability issues in the area of international economic law reveals a heterogeneous set of questions depending on the area of law concerned, thus offering different perspectives for studying liability issues. This title is included in Bloomsbury Professional's International Arbitration online service.
Download or read book A Communitarian Theory of WTO Law written by Chios Carmody and published by Cambridge University Press. This book was released on 2023-12-31 with total page 529 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since 1995 there has been intense debate about whether the WTO Agreement is just. Many observers point to the association of the treaty with intensive interdependence and the disruptive effects of globalization to assert that it is unjust. Nevertheless, justice in sovereign terms is different from justice in human terms. This book puts forward a theory of WTO law to explain the difference and its implications for the international trading system. It details how economic interdependence gives rise to an interdependent view of the relationship between different forms of justice and to interdependent obligations in WTO law. It also suggests how the WTO dispute settlement system might have a residual value as a locus for transformative outcomes despite contemporary concerns about the system's political acceptability. Taken together, such insights may assist in identifying elements of a general theory of law.
Download or read book Climate Change Policy in North America written by A. Neil Craik and published by University of Toronto Press. This book was released on 2013-12-11 with total page 393 pages. Available in PDF, EPUB and Kindle. Book excerpt: While no supranational institutions exist to govern climate change in North America, a system of cooperation among a diverse range of actors and institutions is currently emerging. Given the range of interests that influence climate policy across political boundaries, can these distinct parts be integrated into a coherent, and ultimately resilient system of regional climate cooperation? Climate Change Policy in North America is the first book to examine how cooperation respecting climate change can emerge within decentralized governance arrangements. Leading scholars from a variety of disciplines provide in-depth case studies of climate cooperation initiatives – such as emissions trading, energy cooperation, climate finance, carbon accounting and international trade – as well as analysis of the institutional, political, and economic conditions that influence climate policy integration.
Download or read book Light The Lamp Papers On World Trade And Investment In Memory Of Bijit Bora written by Christopher Findlay and published by World Scientific. This book was released on 2010-06-17 with total page 414 pages. Available in PDF, EPUB and Kindle. Book excerpt:
