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International Trade Factors

Explore the intricate web of international trade, treaties, and agreements that shape global commerce. Learn about the impact of international law, business competitiveness, and trade organizations on the modern marketplace. Discover the complexities of resolving disputes, mitigating risks, and ensuring fair trade practices in a global economy.

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International Trade Factors

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  1. International Trade Factors • Treaties/Agreements • Each Country Wants To Make Its Goods/Services More Competitive • Rule Of Law/Property Rights Apply To • Businesses • Nation-States

  2. What Is International Law? • Principles Widely Practiced And Acknowledged By Civilized Nations To Be Law. • Paquette Habana Case (1900) – International Law Is Part Of Our Law. (U.S. Supreme Court) • International Organizations

  3. Public International Law • Statute Of The International Court Of Justice (World Court) • Non-Binding Decisions • Applies To Disputes • International Conventions • International Custom • General Principles Of Law • Judicial Decisions/Teachings Of Qualified Publicists

  4. Private International Law • Laws Of Nations • Multilateral Agreements • Conflicting/Differing Laws Create Instability • International Commerce Is Complex • Determining Proper Forum (Court) Difficult

  5. United Nations • Post World War II • Goal – To Save Succeeding Generations From Scourge of War. • Authorizes Collective Measures For Prevention And Removal Of Threats To Peace, And Suppression Of Acts Of Aggression.

  6. World Trade Organization (WTO) • General Agreement On Tariffs And Trade (GATT) (1948) • 1994 Uruguay Round – Amended GATT & Created WTO • Principles • All Members Equal In Trade • No Favoring Of Domestic Over Imported Goods/Services • Eliminate Trade Barriers Montevideo, Uruguay Harbor Courtesy of C. Bowles

  7. European Union • Treaty Of Rome (1957) • Single European Act (1987) - Remove Barriers To European Trade • Maastricht Treaty (1992) - Create Federal Government • Commission Of Entire Union • Coordinate Policies Of Members • Nice Summit (2000)- Added (2007) 12 Members To Original 15

  8. Conventions On International Sale Of Goods • Effective 1988 • Applies To Contracts For Commercial Sale Of Goods • Supercedes U.S. Commercial Code Freedom In Contract Negotiation- Not In Writing

  9. North American Free Trade Agreement (1993) • Among US/Mexico/Canada • Free Trade • Dispute Settlement • U.S. Has Trade Deficit With Both

  10. Central American-Dominican Republic Free Trade Agreement (CAFTA-DR) • 2005 • Similar to NAFTA • Among Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, The Dominican Republic And The United States • Eliminate Product Trade Barriers

  11. Transacting International Business • Foreign Sales • Irrevocable Letter Of Credit - Buyers Issuing Bank • Bill Of Lading - Seller’s Confirming Bank • License/Franchise • Direct Foreign Investment • Foreign Subsidiary • Joint Venture

  12. International Trade Risks • Loss Of Investment • Expropriation - Confiscation • Nationalization - Power Of Eminent Domain • Export Controls • Bribes - Foreign Corrupt Practices Act (1977) • U.S. Antitrust Conflicts

  13. Resolving International Disputes • Suing Foreign Governments- Sovereign Immunity - Foreign Sovereign Immunities Act (1976) - Commercial Acts • Suing Foreign Firms- Hague Service Convention • Alien Tort Claims Act • International Arbitration

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