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PART Ⅰ. THE LEGAL STRUCTURE OF THE REGULATION OF INTERNATIONAL ECONOMICS1

SUB-PART A: INTRODUCTION1

CHAPTER 1. THE POLICIES OF INTERNATIONAL ECONOMIC RELATIONS1

1.1 Introduction: Economic Interdependence and What It Means1

1.2 Economics and the Policies of Trade5

1.3 General Policy Objectives: Political Goals and International Economic Policy20

1.4 Some Historical Perspectives24

CHAPTER 2. THE TRANSACTIONS OF INTERNATIONAL COMMERCE33

2.1 Introduction33

2.2 The International Sales Transaction35

2.3 Financing International Sales57

2.4 Disputes and Enforcement of Foreign Judgments63

2.5 Representatives Abroad: Agency and Corporate Law68

2.6 International Efforts to Unify Law70

SUB-PART B. NATIONAL REGULATION OF INTERNATIONAL ECONOMIC TRANSACTIONS75

CHAPTER 3. THE UNITED STATES CONSTITUTION AND REGULATION OF INTERNATIONAL ECONOMIC AFFAIRS75

3.1 Introduction to Sub-part B and Chapter 375

3.2 The President's "Inherent" Powers78

3.3 The Courts and Foreign Relations120

CHAPTER 3. THE UNITED STATES CONSTITUTION AND REGULATION OF INTERNATIONAL ECONOMIC AFFAIRS—CONTINUED128

3.4 Congress and Its Work: The Trade Act of 1974 as a Case Study128

3.5 Federal-State Relations and United States International Economic Regulations166

CHAPTER 4. UNITED STATES REGULATION OF INTERNATIONAL ECONOMIC AFFAIRS191

4.1 Introduction191

4.2 The President's Power to Regulate International Economic Affairs195

4.3 International Agreements in United States Domestic Law252

4.4 Reach of National Regulation273

CHAPTER 5. NATIONAL GOVERNMENT REGULATION ; THE EUROPEAN ECONOMIC COMMUNITIES279

5.1 Introduction: Foreign Government Regulation of International Economic Transactions279

5.2 The EEC Legal System and International Trade281

5.3 EEC Autonomous Regulation of International Trade317

5.4 EEC External Trade Relations: The Treaty Making Power324

5.5 Member States of the EEC and International Trade Regulation334

5.6 Other Governments342

SUB-PART C. INTERNATIONAL REGULATION: THE BRETTON WOODS SYSTEM352

CHAPTER 6. INTERNATIONAL ECONOMIC REGULATION AND THE BRETTON WOODS SYSTEM352

6.1 Introduction to International Economic Institutions352

6.2 International Law: Role of Custom and Treaties-Individual Rights and State Responsibility353

6.3 International Norms of Economic Relations362

6.4 Multilateral Economic Relations and the Bretton Woods System383

CHAPTER 7. THE GENERAL AGREEMENT ON TARIFFS AND TRADE396

7.1 International Regulation of Trade Relationships396

7.2 Legal Problems of Applying GATT401

7.3 The GATT Contracting Parties: Decisions and Power410

7.4 Membership of GATT420

7.5 Dispute Resolution and Sanction in the GATT422

7.6 The International Economic Regulatory System Viewed as a Whole: Problems to Consider430

CHAPTER 8. IMPORT RESTRAINTS: THEIR POLICIES AND REGULATION433

8.1 Introduction433

8.2 Legal Problems of National Tariffs450

8.3 GATT and International Tariff Commitments: The "Bindings"469

8.4 Quotas and Their Application502

8.5 The EEC Variable Levy508

CHAPTER 9. NONDISCRIMINATION AND THE MOST-FAVORED-NATION CLAUSE515

9.1 The Most-Favored-Nation Obligation515

9.2 MFN In Operation531

9.3 Preferences and MFN Exceptions542

9.4 Customs Unions and Free Trade Areas560

CHAPTER 10. THE NATIONAL TREATMENT CLAUSE AND NONTARIFF BARRIERS573

10.1 Introduction573

10.2 The National Treatment Obligation in Operation574

10.3 Exception for National Social and Economic Programs589

10.4 Government Purchases606

CHAPTER 11. ADJUSTMENT TO IMPORTS AND SAFEGUARDS AGAINST INJURY (ESCAPE CLAUSE)615

11.1 Individual Injury Due to Imports615

11.2 International Escape Clause Obligations: GATT Article XIX617

11.3 United States Escape Clause Law629

11.4 "Voluntary" Export Restraint Agreements or "Orderly Market Agreements"668

11.5 Adjustment Assistance678

CHAPTER 12. RESPONSES TO FOREIGN "UNFAIR" ACTIONS690

12.1 Introduction690

12.2 Dumping and Anti-Dumping691

12.3 Subsidies and Countervailing Duties754

12.4 Retaliation in Trade Policy: Focus on United States Law832

CHAPTER 13. MONETARY AFFAIRS AND TRADE POLICY: OPERATION OF THE INTERNATIONAL MONETARY FUND848

13.1 Introduction848

13.2 Operations of the International Monetary Fund861

13.3 National Government Foreign Exchange Restrictions: Current v. Capital Payments886

13.4 Trade Measures for Balance of Payments Reasons899

CHAPTER 14. EXPORT CONTROLS AND THEIR USES: ACCESS TO SUPPLY911

14.1 Introduction911

14.2 International Concern with Supply Access916

14.3 United States Export Control Law922

CHAPTER 15. NATIONAL SECURITY, POLITICAL USE OF TRADE CONTROLS, OIL AND RHODESIA941

15.1 Use of Trade Controls for Political Purposes941

15.2 National Security and the Rules of International Trade942

15.3 Economic Sanctions, the United Nations and the Rhodesian Embargo961

CHAPTER 16. COMMODITY PROBLEMS AND AGRICULTURAL GOODS979

16.1 Agricultural and Other Commodities in International Trade979

16.2 Agricultural Products and International Trade Rules981

16.3 Commodities and Commodity Agreements995

CHAPTER 17. TRADE PREFERENCES FOR DEVELOPING COUNTRIES1009

17.1 Introduction: Policies and Attitudes Relating to Developing Countries and World Trade1009

17.2 GATT Rules and Developing Countries1013

17.3 Trade Preferences for Developing Countries1016

17.4 Initiatives for a "New Economic Order"1039

CHAPTER 18. NONMARKET ECONOMIES, STATE TRADING AND INTERNATIONAL ECONOMIC REGULATION1045

18.1 Trade Between Market and Nonmarket Economies1045

18.2 The GATT and State Trading1053

18.3 The United States and Trade with Communist Countries1056

18.4 The European Economic Community and Trade with Communist Countries1065

Index1073