Should The Teeth Be Pulled? A Preliminary Assessment Of WTO Sanctions

Topics:
GATT,
WTO
Tags:
Finance,
Free Trade,
Sanction,
World Trade Organization
Source:
Institute for Agriculture and Trade Policy

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Overview: Although often described as one of the most important features of the World Trade Organization (WTO) dispute settlement system, the possibility of authorizing a trade sanction against a scofflaw member government is a mixed blessing. On the one hand, it reifies the WTO rules and promotes respect for them. On the other hand, however, it undermines the principle of free trade, and provokes “sanction-envy” in other regimes. Undoubtedly, the implanting of “teeth” by the WTO negotiators was one of the key achievements of the Uruguay Round, and a very significant step in the evolution of international economic law. But after five and one-half years experience, WTO observers are right to reconsider whether making available retaliatory trade measures was such a good idea. The purpose of this paper is to provide a preliminary assessment of WTO trade sanctions.

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Format: PDF | Size: 129KB | Date: Sep 2000 | Pages: 45

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