Legal Problems of International Economic Relations

This book focuses on the rules-based multilateral trading system established by the World Trade Organization, with particular emphasis given to the rich and detailed jurisprudence developed by the WTO's Appellate Body. The book also devotes considerable attention to national laws operating in the shadow of the WTO system (such as antidumping and countervailing duty laws), and to interesting new developments associated with free trade agreements such as the USMCA. After introductory chapters on international economics, international law, and US constitutional and institutional issues relating to international trade regulation, the book explores the WTO's structure and takes a detailed look at its dispute settlement system. The heart of the book then treats the basic GATT rules on (i) trade liberalization (tariffs and quotas), (ii) non-discrimination (MFN and national treatment and the exceptions for FTAs, health and conservation), (iii) standards and (iv) trade remedies (safeguards, dumping and subsidies). Additional chapters cover trade in services, intellectual property issues and several other trade-related issues. The new 7th edition offers a basic understanding of the international economic system, the impact of international economic interdependence and the struggle of legal institutions to cope with this and other aspects of globalization.