Conclusion

2020 ◽  
pp. 315-322
Author(s):  
Douglas A. Irwin
Keyword(s):  
International Trade ◽  
World Trade ◽  
Trade Policies ◽  
Trading System ◽  
The World ◽  
World Trading System ◽  
And Function ◽  
Open Markets ◽  
The Impact ◽  
Role And Function

This chapter concludes that international trade and trade policies are frequently the object of condemnation rather than approbation. It explains how the condemnation are often the result of misconceptions about the benefits of international trade, the impact of trade policies, and the role and function of the World Trade Organization (WTO). Though the last few decades have been marked by a general reduction in trade barriers, the matter is not settled because the pressures to weaken the commitment to open markets never abate. The chapter emphasizes on difficult policy choices at the intersection of trade policy and climate change that could hold key battles over the world trading system in coming years. It also highlights the several benefits of world trade and the contribution of trade to the welfare and prosperity of billions of people around the world.

scholarly journals Will International Rules on Subsidies Disrupt the World Trading System?

2006 ◽  
Vol 96 (3) ◽  
pp. 877-895 ◽  
Author(s):  
Kyle Bagwell ◽  
Robert W Staiger
Keyword(s):  
Market Access ◽  
Formal Analysis ◽  
Trading System ◽  
Domestic Production ◽  
Multilateral Trading System ◽  
The World ◽  
World Trading System ◽  
The Creation ◽  
The Impact ◽  
The Multilateral Trading System

We provide a first formal analysis of the international rules that govern the use of subsidies to domestic production. Our analysis highlights the impact of the new subsidy disciplines that were added to GATT rules with the creation of the WTO. While GATT subsidy rules were typically viewed as weak and inadequate, our results suggest that the key changes introduced by the WTO subsidy rules may ultimately do more harm than good to the multilateral trading system by undermining the ability of tariff negotiations to serve as the mechanism for expanding market access to more efficient levels.

Trade and Environment in the World Trading System: A Decade of Stalemate?

2001 ◽  
Vol 1 (4) ◽  
pp. 1-9 ◽  
Author(s):  
Marc Williams
Keyword(s):  
Sustainable Development ◽  
World Trade Organization ◽  
World Trade ◽  
Trade And Environment ◽  
Trading System ◽  
The Past ◽  
System A ◽  
The World ◽  
World Trading System

This article assesses the first decade of the trade-environment debate, and explores the possibilities for reconciliation of competing positions on trade-environment issues. It explores three aspects of the continuing conflict over trade and environment in the World Trade Organization. Rejecting both optimistic and pessimistic accounts of the past and future of the trade-environment debate it argues that important changes have occurred that have transformed the debate. But, despite the normalization of the trade-environment debate around the concept of sustainable development significant points of contention remain among the various participants.

Digital Trade, E-Commerce, the WTO and Regional Frameworks

2019 ◽  
Vol 18 (S1) ◽  
pp. S1-S7 ◽  
Author(s):  
MERIT E. JANOW ◽  
PETROS C. MAVROIDIS
Keyword(s):  
World Trade ◽  
Industrial Revolution ◽  
Uruguay Round ◽  
Information Economy ◽  
Trading System ◽  
Fourth Industrial Revolution ◽  
The Us ◽  
The World ◽  
Modern Business ◽  
World Trading System

The digitalization of trade is a reality, and yet the regulation of the world trading system as embedded in the World Trade Organization (WTO) only tangentially, if at all, touches upon this issue. True, digitalization of the economy, the fourth industrial revolution as it is colloquially referred to, is a recent phenomenon, and to some extent post-dates the conclusion of the Uruguay round agreements (1994). True also, however, is the reality that the world trading system has shown a remarkable inability to adjust to modern business realities in its multilateral rule architecture. To the extent these transformations are being reflected in new rules, they are being introduced in regional or bilateral frameworks, albeit in an incomplete fashion. It is also the case that the world is witnessing several different regimes around data and information economy developing in the world today – most notably in the US, Europe, and China. As always, part of the reason that international frameworks have not been born stems from the fact that international rules rarely occur before domestic regulatory and legal regimes are well developed.

scholarly journals The World Trade Organization and the Future of Multilateralism

2016 ◽  
Vol 30 (1) ◽  
pp. 95-116 ◽  
Author(s):  
Richard Baldwin
Keyword(s):  
World Trade Organization ◽  
World Trade ◽  
Production Networks ◽  
Trading System ◽  
International Production ◽  
The World ◽  
The Future ◽  
World Trading System ◽  
Tariff Liberalization ◽  
Pillar Structure

When the General Agreement on Tariffs and Trade was signed by 23 nations in 1947, the goal was to establish a rules-based world trading system and to facilitate mutually advantageous trade liberalization. As the GATT evolved over time and morphed into the World Trade Organization in 1993, both goals have largely been achieved. The WTO presides over a rule-based trading system based on norms that are almost universally accepted and respected by its 163 members. Tariffs today are below 5 percent on most trade, and zero for a very large share of imports. Despite its manifest success, the WTO is widely regarded as suffering from a deep malaise. The main reason is that the latest WTO negotiation, the Doha Round, has staggered between failures, flops, and false dawns since it was launched in 2001. But the Doha logjam has not inhibited tariff liberalization—far from it. During the last 15 years, most WTO members have massively lowered barriers to trade, investment, and services bilaterally, regionally, and unilaterally—indeed, everywhere except through the WTO. For today's offshoring-linked international commerce, the trade rules that matter are less about tariffs and more about protection of investments and intellectual property, along with legal and regulatory steps to assure that the two-way flows of goods, services, investment, and people will not be impeded. It’s possible to imagine a hypothetical WTO that would incorporate these rules. But the most likely outcome for the future governance of international trade is a two-pillar structure in which the WTO continues to govern with its 1994-era rules while the new rules for international production networks are set by a decentralized process of sometimes overlapping and inconsistent mega-regional agreements.

World Trade Law and Renewable Energy: : the Case of Non-tariff Measures

2006 ◽  
Vol 3 (6) ◽  
pp. 500-518 ◽  
Author(s):  
Robert Howse
Keyword(s):  
Renewable Energy ◽  
World Trade ◽  
Electrical Energy ◽  
Trading System ◽  
Trade Law ◽  
The Us ◽  
The World ◽  
World Trading System ◽  
Grid Operation ◽  
The Eu

AbstractOver the last two decades, trade and environment issues have typically been a source of intense controversy and conflict in the world trading system. Renewable energy, however, represents an area where we believe that freer less-distorted trade and environmental protection have the potential to be mutually reinforcing. Historically, electrical energy itself has not been traded across borders, with some exceptions (Canada and the US and in the EU). However, with the de-monopolisation of electricity in an increasing number of jurisdictions, and the unbundling of functions such as generation, grid operation, transmission, and retailing as well as the development of financial instruments such as futures and options contracts for energy, the structure of the entire market is starting to change, complicating the analysis under WTO law. This article aims to raise questions and suggest areas where domestic and international policymakers may need to consider undertaking further analysis.

scholarly journals An assessment of trade policies related to COVID-19

2021 ◽  
Vol 30 (1) ◽  
pp. 1-17
Author(s):  
Rosane Nunes de Faria ◽  
Laura Mercedes Grimaldo Hidalgo ◽  
Leonardo Ferraz
Keyword(s):  
International Trade ◽  
World Trade Organization ◽  
Personal Protective Equipment ◽  
World Trade ◽  
Food Products ◽  
Protective Equipment ◽  
Trade Policies ◽  
Medical Supplies ◽  
The World ◽  
Second Wave

Amidst the COVID-19 crisis, international trade was particularly important to guarantee the supply of medical and other goods. This article analyses COVID-19 trade-related policies found in the World Trade Organization (WTO) system from February to October 2020. We used the Database of WTO members’ notifications on COVID-19, including information on 198 notifications. It allows us to observe the trend of notifications, countries and products most affected, types of measures, and the adherence to the WTO’s guidelines. Our findings show two waves of notifications. In the first wave, countries acted unilaterally with little regard to multilateral tools. However, in the second wave, characterized by the predominance of trade-facilitating measures, a trend towards multilateral actions is observed through the establishment of “declarations”. Personal protective equipment (PPE) and medical supplies were the most affected products, but agricultural and food products have also been heavily affected.

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