A critical assessment of trade retaliation in the WTO by academics, diplomats and practitioners involved in such actions.

Introduction to Trade Policy provides a comprehensive overview of the rules and regulations that govern trade flow. It discusses the trade policy formulation process of major international economic players, and analyzes existing trade policy tools that countries may resort to in order to take advantage of the benefits of international trade and to protect themselves against its dangers, as well as their implications for trade policy, law and negotiations. In Section I, the book explores the ways in which interest groups interact with government and legislators to shape trade policies. By developing an analytical view of trade policy formulation systems in the U.S., European Union, the BRICS countries (Brazil, Russia, India, China and South Africa), Canada, Mexico and Australia, the book will help the reader to gain a better understanding of these countries’ trade policy developments and also to apply such learning to the analysis of the trade policy formulation of any other countries. Section II goes on to explain how trade policy tools are used by governments to achieve trade and other policy objectives, while Section III analyses trade in services and the multilateral trade rules on Intellectual Property. Finally, Section IV uses hypothetical case studies in simulation exercises to illustrate trade policy decision-making and trade agreement negotiations in a bilateral, plurilateral and multilateral setting. This is the ideal introduction to international trade policy formulation for students and professionals in the areas of law, politics, economics and public policy who are seeking to develop a global view of international trade, gain insights into trade negotiations and understand the motivations behind the policies and actions of governments regarding international trade issues. This book is also the ideal companion to any traditional legal casebook on international trade or on international economic law.

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.

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.

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).

From the pen of highly esteemed trade scholar Alan Sykes, this book presents a rigorous introduction to the law and economics of modern international trade agreements. With a bottom-up approach that requires neither a background in international trade law nor significant economics training, Sykes sets out to map and explain the complex dynamics of international trade agreements and institutions, synthesising legal analysis and cutting-edge economic research in order to present the reader with a sophisticated, holistic view of the field.

Containing contributions from both academic experts and practitioners, and from economic and legal experts, this book explores the use of economics in international economic law.

This volume scrutinises the main challenges faced by States in their current international economic relations from an interdisciplinary perspective. It combines legal research with political and economic analysis and favours dialogue among scientific disciplines. Readers are offered a series of in-depth studies on a rich variety of topics: how to reconcile States’ interest to benefit from economic liberalization with their need to pursue social goals (such as the protection of human rights or of the environment); recent developments under WTO law and regional integration processes; international cooperation in the energy sector; national regulatory developments in the banking sector, sovereign wealth funds and investor-State arbitration.

Nation states have long and successfully claimed to be the proper and sovereign forum for determining a country's international economic policies. Increasingly, however, supranational and non-governmental actors are moving to the front of the stage. New forms of multilateral and global policy-making have emerged, including states and national administrations, key international organizations, international conferences, multinational enterprises, and a wide range of transnational pressure groups and NGOs that all claim their share in exercising power and influence on international and domestic policy-making. In honour of Professor Mitsuo Matsushita's intellectual contributions to the field of international economic law, this volume reflects on the current state and the future of international economic law. The book addresses a broad spectrum of themes in contemporary international economic regulations and focuses specifically on the significant areas of Professor Matsushita's scholarship, including the rise of the soft-law mechanism in international economic regulation, the role of the WTO and dispute settlement, and specific areas such as competition, subsidies, anti-dumping, intellectual property, and natural resources. Part one of the volume provides a comprehensive and critical analysis of the rule-based international dispute settlement mechanisms; Part two investigates the normative influences to and from WTO law; and Part three focuses on policy and law-making issues.

This book brings together the 2008 output of the American Law Institute (ALI) project on World Trade Organization Law. Each chapter focuses on a different dispute from the adjudicating bodies of the WTO. Each case is jointly evaluated by well known experts in trade law and international economics. ALI reporters critically review the jurisprudence of WTO adjudicating bodies and evaluate whether the ruling 'makes sense' from an economic as well as a legal point of view, and, if not, whether the problem lies in the interpretation of the law or the law itself. The studies do not always cover all issues discussed in a case, but they seek to discuss both the procedural and the substantive issues that form, in the reporters' views, the 'core' of the dispute. This paperback will be an invaluable resource for students, lecturers and practitioners of international trade law.