Key Regulations and Treaties to Know for International Trade Laws

International trade laws shape how countries interact economically, ensuring fair competition and reducing barriers. Key agreements like WTO and GATT guide these interactions, while regulations on tariffs, intellectual property, and anti-corruption help businesses navigate the global marketplace effectively.

1. World Trade Organization (WTO) agreements

   • Establishes a global framework for trade negotiations and dispute resolution among member countries.
   • Aims to reduce trade barriers and promote free trade through various agreements.
   • Monitors and enforces compliance with trade agreements to ensure fair competition.

2. General Agreement on Tariffs and Trade (GATT)

   • A foundational treaty aimed at promoting international trade by reducing tariffs and other trade barriers.
   • Established principles such as most-favored-nation (MFN) treatment and national treatment.
   • Evolved into the WTO, expanding its scope to include services and intellectual property.

3. Trade-Related Aspects of Intellectual Property Rights (TRIPS)

   • Sets minimum standards for the protection and enforcement of intellectual property rights globally.
   • Balances the interests of innovators and the public by promoting access to knowledge and technology.
   • Provides a framework for resolving disputes related to intellectual property among member countries.

4. Foreign Corrupt Practices Act (FCPA)

   • Prohibits U.S. companies and citizens from bribing foreign officials to gain business advantages.
   • Requires companies to maintain accurate financial records and implement internal controls.
   • Enforced by the U.S. Department of Justice and the Securities and Exchange Commission.

5. Incoterms

   • International commercial terms that define the responsibilities of buyers and sellers in international transactions.
   • Clarifies who is responsible for shipping, insurance, and tariffs at various stages of the delivery process.
   • Helps reduce misunderstandings and disputes in international trade contracts.

6. United Nations Convention on Contracts for the International Sale of Goods (CISG)

   • Provides a uniform framework for international sales contracts to facilitate cross-border trade.
   • Covers key aspects such as contract formation, obligations of parties, and remedies for breach.
   • Aims to reduce legal barriers and increase predictability in international transactions.

7. Export control regulations

   • Govern the export of sensitive goods, technology, and information to protect national security and foreign policy interests.
   • Require exporters to obtain licenses for certain products and technologies before shipping.
   • Enforced by various government agencies, including the Bureau of Industry and Security (BIS) in the U.S.

8. Anti-dumping laws

   • Designed to protect domestic industries from unfair competition by foreign companies selling products below fair market value.
   • Allows countries to impose tariffs on imported goods that are deemed to be dumped.
   • Requires investigations to determine if dumping has occurred and the extent of injury to domestic industries.

9. Customs regulations and tariffs

   • Customs regulations govern the import and export of goods, ensuring compliance with laws and payment of duties.
   • Tariffs are taxes imposed on imported goods to protect domestic industries and generate revenue.
   • Compliance with customs regulations is essential for smooth international trade operations.

10. Free trade agreements (e.g., NAFTA, USMCA)

    • Agreements between countries to reduce or eliminate trade barriers, promoting economic cooperation.
    • Facilitate trade by lowering tariffs, simplifying customs procedures, and enhancing market access.
    • Address various issues, including labor standards, environmental protections, and intellectual property rights.