International Business Law

Final Study Guide

Chapters 8-14

 

Chapter 8—National Lawmaking Powers and Regulation of US Trade

          How does trade law interrelate with foreign policy?  

          What is the responsibility of each branch of government?

          Treaties and Trade Agreements

                   What is the difference?

                   Which is more common?

                   Be able to describe the history and give examples of each

          President’s emergency powers

                   What are the powers?

                   When can they be used?

          Don’t worry about fed-state relations and the list of federal agencies

 

Chapter 9—GATT Law and WTO

          Barriers to imports

                   Tariffs

                   Direct non-tariff barriers

                   Indirect non-tariff barriers

          GATT and WTO framework

                   Be able to discuss what is covered and the dispute resolution mechanisms

          Non-discrimination principle

          How does GATT work with each different kind of barrier to import

 

Chapter 10—Laws Governing Access to Foreign Markets

          Technical barriers to trade—why are these so hard to deal with?

          Import licensing

          Government procurement

          GATT-1994

                   Services

                   Agriculture

                   Textiles and clothing

          Don’t worry about the other 1994 agreements

          Section 301

                   What is it?

                   When can it be invoked?

                   Why is it a problem?

 

Chapter 11—Regulating import competition and unfair trade

          GATT safeguards—steel is a good example

          Dumping and Anti-dumping duties—when can they be invoked?

          Subsidies and countervailing duties—what are they and what is the problem?

 

Chapter 12—Imports, Customs and Tariff Law

          Be able to describe the formal entry process

          Be able to describe the problems that come up in using the tariff schedule (e.g. what’s a diary?)

          Be able to describe the country of origin rules: substantial transformation vs. tariff shift test

          Don’t worry about the other stuff

 

Chapter 13—NAFTA

          What is it?  Who’s in it?

          Rules of origin

          Everything else in this chapter is important and you need to know it.  The easiest way is probably to take an example from the book (textiles, trucking, autos) and see how the rules apply there.  If you can explain it in context, you’ve got it.

 

Chapter 14—European Union

          Why does it exist?  Who’s in it?  Who wants in?

          Know the history of gradual integration and expansion.

          Don’t worry so much about the governing structure, it’s a complicated shifting thing that will probably change in the next couple of years any way.  I won’t ask what falls to the European Parliament and what goes to EU Council.  Just know that dispute resolution mechanisms exist, and that each country keeps its sovereignty?

          Concentrate on the movement of goods, services, people and capital.  What can you do and what can’t you do?  What’s the impact of having the old eastern bloc countries join the club?  Also, is there an EU foreign policy?  Will there ever be?

          How does EU compare to NAFTA?  If you can answer that, you’ll understand both pretty well.