Economic International Law Flashcards
What source is the most important for states in economic law?
Treaty Law - there is almost no customary international law in economics
What is a tariff?
Tax on a foreign good
What is a regulatory barrier of a good?
Licensing and approvals basis
What is a quota?
The limitation of an amount of foreign goods of x type we allow into the country
What kind of organisation is the WTO?
A treaty based intergovernmental conference
What does the WTO do?
- Resolve disputes
- Administer trade agreements
- Assist states with economic policies
What does “most favoured nation status” mean?
A state should treat that country the same as it would its “most favoured nation”
What is an investor-dispute clause?
It allows foreign companies to use domestic courts to resolve issues
What is FACTA?
The Foreign Account Tax Compliance Act of 2010 was the IRS’ attempt to impose global co-operation to catch tax cheats
