International Economic Law and Policy Blog (Page 118)

International Economic Law and Policy Blog

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The ITC's USMCA Report: The ISDS Section

This is the ISDS section of the ITC's USMCA report (starts on p. 199, footnotes omitted): Modeling of Changes to Key ISDS Provisions The Commission’s quantitative assessment of the ISDS provisions sought to identify how the changes in ISDS provisions could affect the U.S. economy as

Highlights of the ITC Report on the USMCA's "Likely Impact on the U.S. Economy and on Specific Industry Sectors"

Here's the headline number from today's ITC report on the impact of USMCA: The Commission’s model estimates that USMCA would raise U.S. real GDP by $68.2 billion (0.35 percent) and U.S. employment by 176,000 jobs (0.12 percent). The model

Peremptory Challenges during Panelist Composition in NAFTA 2.0

This is from the dispute settlement chapter of USMCA (Inu pointed it out to me): Article 31.9: Panel Composition ... 3. A panelist shall normally be selected from the roster. A disputing Party may exercise a peremptory challenge against an individual not on the roster who is proposed as a

Can Special and Differential Treatment Reduce Poverty?

In January, the Trump Administration attacked the use of special and differential treatment (SDT), by virtue of developing country status, by China, India, Brazil, and a number of other countries (not to mention Singapore, South Korea, and Israel). The argument, focusing on China, is that China is the world’s

In USMCA Ratification Fight, It's Much Ado about Labor

Congressional Democrats are starting to flex their muscles against President Trump’s trade policy. As ratification of the U.S.-Mexico-Canada Agreement (USMCA) hangs in the balance, House Speaker Nancy Pelosi and other prominent Democrats have called on U.S. Trade Representative Robert Lighthizer to strengthen enforcement of the pact.

Three Scenarios for the Future of the WTO Appellate Body, or: Why WTO Members Should Start Negotiating a DSU 2.0

A fundamental uncertainty bedevils attempts to unblock the appointment process of WTO Appellate Members: is the US holding up Appellate Body appointments in order to generate enough leverage for a negotiated reform of WTO dispute settlement? Or does the US seek to abolish the Appellate Body (in effect if not

Business Reactions to Trade Wars

There is a Chinese saying that “when there is a policy from the above, there is a reaction from the below” (“上有政策, 下有对策”). This is exactly what has happened since the inception of trade wars. Both domestic and international businesses have attempted to avoid the punitive tariffs through various means,

Shaffer and Gao on China's Marshall Plan

Greg Shaffer and Henry Gao have a new paper called "A New Chinese Economic Law Order?" Here is the abstract: China is incrementally developing a new, decentralized model of trade governance through a web of finance, trade, and investment initiatives involving memorandum of understandings, contracts, and trade and

Celebrating 30 years of TPRM but noting it could be much better

It is great to see the WTO’s news item on 12 April celebrating the 30th anniversary of the Trade Policy Review Mechanism (see https://www.wto.org/english/news_e/news19_e/tpr_12apr19_e.htm and https://www.wto.org/english/tratop_e/tpr_e/tprm30_e.htm

Book Release: Building Legal Capacity for a More Inclusive Globalization

This is from the Center for Trade and Economic Integration (CTEI) at the Graduate Institute in Geneva: The Center for Trade and Economic Integration (CTEI) at the Graduate Institute in Geneva announces the release of a new edited book by Joost Pauwelyn and Mengyi Wang, entitled "Building Legal Capacity