International Trade Regulation (JPJ2037) (ECO1320H) (LAW285H1S)

This seminar will explore the regulatory framework governing international trading relations. It will begin with the economic theory of international trade and in particular the case for free trade, then examine the politics of trade policy and objections and sources of opposition to free trade. 

The following topics will be examined: international economic institutions, the GATT/WTO multilateral trade law regime, the principles of non-discrimination (most favoured nation and national treatment), preferential trade agreements, special & differential treatment for developing countries, antidumping regulation, subsidies and countervailing duties, safeguards, adjustment assistance, trade and agriculture, trade in services and migration, trade-related investment measures, trade-related intellectual property rights, trade and health and safety standards, trade and the environment, trade and labour standards & human rights. 

The seminar will emphasize the institutions and political economy of international trading relations and how economic and political forces have shaped current regulatory policies and may shape future policies, including the US-China trade conflict, the Russian invasion of Ukraine & economic sanctions & counter-sanctions that it has provoked, and the implications of the Covid-19 pandemic for international trade and investment.