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The Political Economy Of Wto Exceptions, Timothy Meyer
The Political Economy Of Wto Exceptions, Timothy Meyer
Faculty Scholarship
In a bid to save the planet from rising temperatures, the European Union is introducing a carbon border adjustment mechanism—essentially a levy on imports from countries with weak climate rules. The United States, Canada, and Japan are all openly mulling similar proposals. The Biden Administration is adopting new Buy American rules, while countries around the world debate new supply chain regulations to address public health issues arising from COVID-19 and shortages in critical components like computer chips. These public policy initiatives—addressing the central environmental, public health, and economic issues of the day—all likely violate World Trade Organization (WTO) rules governing …
Misaligned Lawmaking, Timothy Meyer
Misaligned Lawmaking, Timothy Meyer
Faculty Scholarship
This Article makes three contributions. First, it introduces the Misalignment Thesis in the context of U.S. trade policy. The Misalignment Thesis is a descriptive claim about how the structure of a legislative bargain influences the long-term stability and effectiveness of that bargain. Second, the Article introduces the normative corollary to the Misalignment Thesis: if political stability hinges on respecting the legislative bargain, interdependent policies should be subject to renegotiation on the same timeline and implementation on the same terms. In light of this prescription, I offer three concrete proposals for aligning trade liberalization and trade adjustment assistance in order to …
Analyzing The Trump Administration's International Trade Strategy, Rachel Brewster
Analyzing The Trump Administration's International Trade Strategy, Rachel Brewster
Faculty Scholarship
No abstract provided.
Trade And The Separation Of Powers, Timothy Meyer, Ganesh Sitaraman
Trade And The Separation Of Powers, Timothy Meyer, Ganesh Sitaraman
Faculty Scholarship
There are two paradigms through which to view trade law and policy within the American constitutional system. One paradigm sees trade law and policy as quintessentially about domestic economic policy. Institutionally, under the domestic economics paradigm, trade law falls within the province of Congress, which has legion Article I powers over commercial matters. The second paradigm sees trade law as fundamentally about America’s relationship with foreign countries. Institutionally, under the foreign affairs paradigm, trade law is the province of the President, who speaks for the United States in foreign affairs. While both paradigms have operated throughout American history, the domestic …
Revenue Seeking: A Generalization Of The Theory Of Tariffs – A Correction, Jagdish N. Bhagwati, T.N. Srinivasan
Revenue Seeking: A Generalization Of The Theory Of Tariffs – A Correction, Jagdish N. Bhagwati, T.N. Srinivasan
Faculty Scholarship
In our paper on "Revenue Seeking: A Generalization of the Theory of Tariffs" (1980), we extended the theory of tariffs to include revenue seeking. We also compared tariffs with quotas, under seeking activities associated with the revenues from the former and with the rents (i.e., license premia) from the latter.
Revenue Seeking: A Generalization Of The Theory Of Tariffs, Jagdish N. Bhagwati, T.N. Srinivasan
Revenue Seeking: A Generalization Of The Theory Of Tariffs, Jagdish N. Bhagwati, T.N. Srinivasan
Faculty Scholarship
The theory of commercial policy has recently addressed three phenomena: (i) tariff (quota) seeking or lobbying by potential beneficiaries for the imposition of a tariff (quota), (ii) tariff (quota) evasion, and (iii) rent seeking or lobbying for getting an allocation of the import quota to earn the rents generated. Revenue seeking or lobbying to secure a share in the disposition of the tariff revenues is analyzed here. It is shown that revenue seeking may, even for a small country, result in a reduction in importable output. Furthermore, revenue seeking may be welfare improving. Rent seeking may be welfare improving as …