International Trade Law: Globalisation Trade and Development

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The recent revival of (economic) nationalism in various parts of the world, including some traditional towers of trade liberalization, has been a wake-up call to many who believed that the failure of the so- called Doha round of international trade negotiations conducted under the auspices of the World Trade Organization (WTO) to deliver improved global trade rules and new trade deals was the most significant challenge this organization was facing at present. With the entry into office of the new US administration in January 2017 arguably a greater challenge has arisen for the WTO and its global membership. Praising trade protectionism and bilateralism and attacking the independence of the WTO dispute settlement, generally recognized as the most successful and effective international dispute settlement system in history, the US seems to threaten the very basics of this multilateral rules-based system that go far beyond the failure of the Doha round of negotiations. To understand the context – and content - of these developments, comprehension of the main institutional and substantive aspects of the law and policy of the WTO developed over the past decades is indispensable. It will also enable students to understand preferential trade agreements that have been mushrooming as a result of the failure of the Doha round to reach multilateral consensus, thereby shifting trade negotiations partly away from the WTO. Depending on the political and economic position of the involved states, some of these agreements may well set new standards for future international trade (and investment) regulation. This applies to agreements such as the Trans- Pacific Partnership (TPP) involving eleven countries around the Pacific incl. Canada, Australia, Japan but also Chile and Vietnam (though the US withdrew from this agreement right after the new administration had taken the office); Canada – EU Trade Agreement (CETA) but, if it goes ahead, also the US-EU Transatlantic Trade and Investment Partnership (TTIP). All these agreements contain various WTO plus arrangements and will be of importance for future developments in international trade law and policy. By taking this course, students will gain understanding of not just the WTO but also of many other recent developments in the world. This introductory course on WTO law and policy is built around a number of true-to-life international trade problems represented in the form of case studies. The course addresses six themes. It starts by examining the phenomenon of economic globalization and, the arguments for and against free trade, as well as the role of law in international economic and trade relations. Secondly, the course looks at the history, objectives, structure, functions, decision-making and membership of the WTO. Thirdly, the WTO's unique system for the resolution of trade disputes is discussed. Fourthly, the principles of non-discrimination in WTO law (namely the obligations of most-favoured-nation treatment and national treatment) are examined. Fifthly, the WTO rules on market access, dealing with tariff barriers and some non-tariff barriers to trade in goods and services are addressed. Finally, the provisions of WTO law that aim to balance trade liberalization with other societal values (such as health, environment, development and regional integration) by means of exceptions to WTO obligations are discussed.