International Trade Law Commons^™

A Destination-Based Cash Flow Tax Can Be Structured To Comply With World Trade Organization Rules, Itai Grinberg

Georgetown Law Faculty Publications and Other Works

This paper briefly outlines alternative approaches to enacting a destination-based cash flow tax that are more clearly compatible with the World Trade Organization rules than the approach that has previously been described in the literature. The first structural alternative involves expanding the universe of businesses subject to the tax by clearly defining both the base of the new U.S. business tax and its tax nexus requirement as domestic consumption, and thereafter treating foreign importers and other sellers equivalently, rather than imposing a deduction disallowance or an import tax. The second alternative involves adopting a business activities tax, and then enacting …

Cinderella Sovereignty, Anna Gelpern

Georgetown Law Faculty Publications and Other Works

Joseph Blocher and Mitu Gulati propose an insightful and thought-provoking critique of the barriers to secession under public international law. The critique an important contribution in its own right. I wish it had not been eclipsed by the authors’ clever and provocative fix: turning sovereignty into a tradable commodity. I suspect that this fix would bring about more suffering than the status quo for two reasons. First, a market for sovereign control is unlikely to be a market in any meaningful sense. Therefore, trading sovereignty would not discipline oppressors. Second, should something like a real market materialize, it could diminish …

A Constructive U.S. Counter To Eu State Aid Cases, Itai Grinberg

Georgetown Law Faculty Publications and Other Works

U.S. Treasury officials and members of Congress from both parties have expressed concern that the European Commission’s current state aid investigations are disproportionately targeting U.S.-based multinational enterprises. At the same time, a Treasury official recently suggested in congressional testimony that there are limits to what Treasury can do beyond strongly expressing its concerns to the commission. In that testimony, Treasury’s representative hinted at two specific pressure points: whether the state aid investigations could undermine U.S. tax treaties with EU member states; and whether any assessments paid by the foreign subsidiaries of U.S. MNEs as a result of state aid investigations …

Count The Limbs: Designing Robust Aggregation Clauses In Sovereign Bonds, Anna Gelpern, Ben Heller, Brad Setser

Georgetown Law Faculty Publications and Other Works

On August 29, 2014, the International Capital Market Association (ICMA) published new recommended terms for sovereign bond contracts governed by English law. One of the new terms would allow a super majority of creditors to approve a debtor’s restructuring proposal in one vote across multiple bond series. The vote could bind all bond holders, even if a series voted unanimously against restructuring, so long as enough holders in the other series voted for it. An apparently technical change, awkwardly named “single-limb aggregated collective action clauses (CACs)” promised to eliminate free-riders for the first time in the history of sovereign bond …

Interview Of Peter J. Williams Conducted By Rosine Plank-Brumback On May 31, 2015, Institute Of International Economic Law, Georgetown University Law Center

The Oral History Project of the World Trading System

Interview of Peter John Williams, Former Director for Non-Tariff Measures & Former Secretary of Ministerial Conferences, GATT Secretariat; Former EU Delegate for WTO Accessions, conducted by Rosine Plank-Brumback on May 31, 2015.

Cool Story: Country Of Origin Labeling And The First Amendment, Rebecca Tushnet

Georgetown Law Faculty Publications and Other Works

Country of origin labeling (COOL) requirements have long been part of government regulation of commerce. While one might ordinarily think of mandatory COOL as part of trade policy--or even as a means of encouraging individual citizens to engage in country-specific buying that would be disallowed as protectionism if carried out by their governments -- the most robust legal challenges to mandatory COOL now come from the First Amendment, not from free trade principles. This reliance on free speech claims offers a stark example of the charismatic force of the First Amendment. Objections having little to do with free speech at …

Virtual Water, Water Scarcity, And International Trade Law, Edith Brown Weiss, Lydia Slobodian

Georgetown Law Faculty Publications and Other Works

We are facing a fresh water crisis during this century. In less than two decades, by 2030, the requirements for fresh water are expected to exceed the currently available and accessible fresh water supplies by 40%. Many countries are expected to be water stressed later in this century; some areas of the world already are. Some people may even lack water to meet basic human needs, such as drinking, washing, and sanitation. In rural areas in certain regions, people may lack water to grow good food crops, even for their own consumption. This has major implications for the welfare of …

Carving Out Policy Autonomy For Developing Countries In The World Trade Organization: The Experience Of Brazil And Mexico, Alvaro Santos

Georgetown Law Faculty Publications and Other Works

Although liberal trade and development scholars disagree about the merits of the World Trade Organization (WTO), they both assume that WTO legal obligations restrict states’ regulatory autonomy. This article argues for relaxing this shared assumption by showing that, despite the restrictions imposed by international economic law obligations, states retain considerable flexibility to carve out policy autonomy. The article makes three distinct contributions. First, it analyzes how active WTO members can, through litigation and lawyering, influence rule interpretation to advance their interests. Second, the article redefines the concept of “legal capacity” in the WTO context and introduces the term “developmental legal …

Interview Of Andrew L. Stoler Conducted By Rosine Plank-Brumback On July 16, 2010, Institute Of International Economic Law, Georgetown University Law Center

The Oral History Project of the World Trading System

Interview of Andrew L. Stoler, Former Deputy Director-General, WTO Secretariat; Former U.S. Deputy Chief of Mission to the WTO, conducted by Rosine Plank-Brumback on July 16, 2010.

Interview Of Ambassador Carla A. Hills Conducted By Rosine Plank-Brumback On July 12, 2010, Institute Of International Economic Law, Georgetown University Law Center

The Oral History Project of the World Trading System

Interview of Ambassador Carla A. Hills, who served as United States Trade Representative [USTR] from 1989 to 1993, conducted by Rosine Plank-Brumback on July 12, 2010.

Eliminating Trade Remedies From The Wto: Lessons From Regional Trade Agreements, Tania Voon

Georgetown Law Faculty Publications and Other Works

As the global financial crisis threatens to manifest in enhanced protectionism, the economic irrationality of dumping, countervailing, and global safeguard measures (so-called ‘trade remedies’) should be of increased concern to the Members of the World Trade Organization (‘WTO’). Long tolerated under the WTO agreements and perhaps a necessary evil to facilitate multilateral trade liberalisation, elimination of trade remedies is far from the agenda of WTO negotiators. However, a small number of regional trade agreements offer a model for reducing the use of trade remedies among WTO Members in the longer term, consistent with WTO rules and broader public international law.

Systemic Regulation Of Global Trade And Finance: A Tale Of Two Systems, R. Michael Gadbaw

Georgetown Law Faculty Publications and Other Works

The recent financial crisis has put enormous strains on the global systems governing international finance and trade. These two important international regulatory systems, created after World War II to promote growth and stability in the global economy, were put to the test in ways unprecedented since the 1930s. This article seeks to analyze and compare their performance as systemic regulators in the course of the crisis and concludes that the trading system performed quite well while the financial system virtually collapsed. This article seeks to account for this difference by looking at the nature of the rules and the institutions …

Interview Of Ambassador Hugo Paemen Conducted By Rosine Plank-Brumback On September 24, 2009, Institute Of International Economic Law, Georgetown University Law Center

The Oral History Project of the World Trading System

Interview of Ambassador Hugo Paemen, Chef de Cabinet of European Commissioner Vicomte Étienne Davignon, Former Deputy-Director-General for External Affairs and Former Spokesperson of the European Commission, conducted by Rosine Plank-Brumback on September 24, 2009.

Interview Of James Bacchus Conducted By Rosine Plank-Brumback On June 10, 2009, Institute Of International Economic Law, Georgetown University Law Center

The Oral History Project of the World Trading System

Interview of James Bacchus, Former WTO Appellate Body Member and Former U.S. Congressman (D-FL), conducted by Rosine Plank-Brumback on June 10, 2009.

On Law And The Transition To Market: The Case Of Egypt, Lama Abu-Odeh

Georgetown Law Faculty Publications and Other Works

On the eve of independence from European colonialism, Egypt, like most other developing countries, undertook the project of de-linking itself from colonial economy by initiating domestic industrialization. The economic project known as Import Substitution Industrialization (“ISI”) was designed to liberate Egypt from raw commodity production--specifically, agricultural and mineral--servicing its previous colonial master, Great Britain. The engine of development would be an expanding public sector with nationalization and socialism as leitmotifs. In re-orienting the economy towards industrial production, Egypt hoped that the terms of trade with the international economy would significantly improve, thereby leading to an improvement in the living standards …

Asat-Isfaction: Customary International Law And The Regulation Of Anti-Satellite Weapons, David A. Koplow

Georgetown Law Faculty Publications and Other Works

This article asserts the thesis that customary international law (CIL), even in the absence of any new treaty, already provides a legal regime constraining the testing and use in combat of anti-satellite (ASAT) weapons. This argument, if validated, is important for both legal and public policy considerations: the world (especially, but not only, the United States) has grown increasingly dependent upon satellites for the performance of a wide array of commercial and military functions. At the same time, because of this growing reliance (and hence vulnerability), interest has surged in developing novel systems for attacking a potential enemy’s satellites – …

Financial Crisis Containment, Anna Gelpern

Georgetown Law Faculty Publications and Other Works

This Article maps financial crisis containment - extraordinary measures to stop the spread of financial distress - as a category of legal and policy choice. I make three claims.

First, containment is distinct from financial regulation, crisis prevention and resolution. Containment is brief; it targets the immediate term. It involves claims of emergency, rule-breaking, time inconsistency and moral hazard. In contrast, regulation, prevention and resolution seek to establish sound incentives for the long term. Second, containment decisions deviate from non-crisis norms in predictable ways, and are consistent across diverse countries and crises. Containment invariably entails three kinds of choices: choices …

Interview Of Julio Lacarte Muró Conducted By A. Jane Bradley On 8 October 2003 And 31 March 2004, Institute Of International Economic Law, Georgetown University Law Center

The Oral History Project of the World Trading System

Interview of Ambassador Julio Lacarte Muró, 1st Chair, WTO Appellate Body; Former Uruguayan Ambassador to the GATT; Former Minister of Industry & Trade; Former Deputy Executive Secretary, GATT Secretariat, conducted by A. Jane Bradley. Interview is split between two dates, October 8, 2003 and March 31, 2004. The interview conducted on March 31, 2004 starts on page 19.

Oversight Of U.S. Trade Preference Programs: Hearing Before The S. Comm. On Finance, 110th Cong., June 12, 2008 (Statement Of Andrew Small, Adjunct Prof. Of Law, Geo. U. L. Center), Andrew Small

Testimony Before Congress

No abstract provided.

Interview Of Geza Feketekuty Conducted By Rosine Plank-Brumback On April 29 And June 9, 2008, Institute Of International Economic Law, Georgetown University Law Center

The Oral History Project of the World Trading System

Interview of Geza Feketekuty, Former Senior Policy Adviser to the U.S. Trade Representative, conducted by Rosine Plank-Brumback. Interview is split between two dates, April 29 and June 9, 2008. The interview conducted on June 9, 2008 starts on page 44.

Interview Of John M. Weekes Conducted By Rosine Plank-Brumback On March 7, 2008 And July 7, 2008, Institute Of International Economic Law, Georgetown University Law Center

The Oral History Project of the World Trading System

Interview of John M. Weekes, Former Canadian Ambassador to the GATT & WTO; Former Chief NAFTA Negotiator, conducted by Rosine Plank-Brumback. Transcript includes introductory text written by John M. Weekes on June 20, 2023. Interview is split between two dates, March 7, 2008 and July 7, 2008. The interview conducted on July 7, 2008 starts on page 61.

Interview Of Mr. Åke Lindén Conducted By Rosine Plank-Brumback On March 5, 2008, Institute Of International Economic Law, Georgetown University Law Center

The Oral History Project of the World Trading System

Interview of Mr. Åke S. Lindén, Former Special Adviser to the Director-General; Former Director for Legal Affairs and for Tariffs, GATT Secretariat, conducted by Rosine Plank-Brumback on March 5, 2008.

Interview Of David Hartridge Conducted By Rosine Plank-Brumback On March 4 And 6, 2008, Institute Of International Economic Law, Georgetown University Law Center

The Oral History Project of the World Trading System

Interview of David Hartridge, Former Acting Director-General and Director for Trade in Services, WTO Secretariat, conducted by Rosine Plank-Brumback. Interview is split between two dates, March 4 and March 6, 2008. The interview conducted on March 6, 2008 starts on page 69.

Interview Of Charles J. O’Mara (Also Known As Joe O’Mara) Conducted By Rosine Plank-Brumback On February 5–6, 2008, Institute Of International Economic Law, Georgetown University Law Center

The Oral History Project of the World Trading System

Interview of Charles J. O’Mara, Former U.S. Special Agricultural Trade Negotiator, Uruguay Round and NAFTA, conducted by Rosine Plank-Brumback. This interview is split between two dates, February 5, 2008, and February 6, 2008. The interview conducted on February 6, 2008 starts on page 31.

Domestic Bonds, Credit Derivatives, And The Next Transformation Of Sovereign Debt, Anna Gelpern

Georgetown Law Faculty Publications and Other Works

Not long ago, financial markets in most poor and middle-income countries were shallow to nonexistent, and closed to foreigners. Governments often had to rely on risky borrowing abroad; the private sector had even fewer options. But between 1995 and 2005, domestic debt in the emerging markets grew from $1 trillion to $4 trillion. In Mexico, domestic debt went from just over 20% of the total government debt stock in 1995 to nearly 80% in 2007. Foreign and local investors are buying. Over the same period, derivative contracts to transfer emerging market credit risk surpassed the market capitalization of the benchmark …

Reforming Key International Financial Institutions For The 21st Century: Hearing Before The Subcomm. On Security And International Trade And Finance Of The S. Comm. On Banking, Housing, And Urban Affairs, 110th Cong., Aug. 2, 2007 (Statement Of Daniel K. Tarullo, Geo. U. L. Center), Daniel K. Tarullo

Testimony Before Congress

No abstract provided.

Author's Response, John H. Jackson

Georgetown Law Faculty Publications and Other Works

It is a privilege for me to have received the attention to my latest book of such a trio of expertise and scholarly balanced policy perspectives from three different disciplines : economics, law, and diplomacy. It is also a privilege and honor for me to receive from each of these three sometimes divergent disciplines a general overall recognition of what I sought to accomplish in this book. I congratulate the reviewers. The book has an intricate logical structure but struggles with huge amounts of empirical information, in a purposefully short work. All three authors have recognized these features, and seem …

Odious, Not Debt, Anna Gelpern

Georgetown Law Faculty Publications and Other Works

This article argues that the doctrine of Odious Debt, which has enjoyed a revival since the U.S. invasion of Iraq in 2003, frames the problem of odious debt in a way that excludes most of the problematic obligations incurred by twentieth-century despots. Advocacy and academic literature traditionally describe the odious debt problem as one of government contracts with private creditors. Most theories of sovereign debt key off the same relationship. But in the latest crop of cases, including Iraq, Liberia, and Nigeria, private creditors represent a small fraction of the old regime's debts. Most of the creditors are other governments …

The Third Moment In Law And Development Theory And The Emergence Of A New Critical Practice, David M. Trubek, Alvaro Santos

Georgetown Law Faculty Publications and Other Works

The study of the relationship between law and economic development goes back at least to the nineteenth century. It is a question that attracted the attention of classical thinkers like Marx and Weber. And there were some early efforts to craft policy in this area; for example, under the Raj, some English Utilitarians tried to put Jeremy Bentham’s ideas about law and economic progress into practice in India. But it was only after World War II that systematic and organized efforts to reform legal systems became part of the practice of international development agencies.

Initially, development agencies turned to law …

Securing American Sovereignty: A Review Of The United States' Relationship With The Wto: Hearing Before The Subcomm. On Federal Financial Management, Government Information, And International Security Of The S. Comm. On Homeland Security And Governmental Affairs, 109th Cong., July 15, 2005 (Statement Of Professor Robert K. Stumberg, Geo. U. L. Center), Robert Stumberg

Testimony Before Congress

No abstract provided.