............ U.S & Global Trade Politics ............................... U.S & Global Trade Politics ............................... U.S & Global Trade Politics ...................   ............ U.S & Global Trade Politics............... ............ U.S & Global Trade Politics ...................      

                                                      SEMINAR ON U.S. & GLOBAL TRADE POLITICS

 --- Lecture Topics & Readings --- 

1.     Introduction -- President Bush’s Trade Legacy and President Obama's Trade Challenges.

2.      Multilateral Trading System, Trade  History and Post-2008 Landscape.

3.      Trade Agreements, Trade Policy and Foreign Policy -- U.S. Constitutional Dimensions.

4.     U.S.  Rule-Making (Agencies) and U.S. Trade Enforcement.

5.      U.S. Trade Remedies -- A / D, CVD, Safeguards & 'Retaliation.'

6.      Export & Reexport Controls -- Extraterritoriality.

7.      Trade Sanctions – Basis and Effectiveness. 

8.      Foreign Corrupt Practice (Corruption) & Antiboycott (Foreign  Boycotts).

9.      National Security and Foreign Investment (FDI and SWF).

10.    U.S. Global Taxation and Financial Regulation of Multinationals.

11.    Comparison of  Democratic and Republican Trade Positions.

12.    2012 Presidential Elections, President Obama & U.S.  Trade Policy.

13.     U.S. - China Trade Relations -- Trade Disputes (2001-2012)..

14.      ........ Review .........

         ........ Final Exam (Exam week) ...............

......................................................................................................

          

                             ----    Readings for each Lecture  ---

1.      Introduction -- President Bush’s Trade Legacy and President Obama's Trade Challenges. 

• "Global Trends 2025 -- A Transformed World." (National Intelligence Council, 2008) (globalization & national security -- major trend)  

• Review of Bush Trade Policies & Future Issues 1-26 (USTR Trade Policy Agenda) (2008).

 

• Obama, "Globalization, Exports & Trade -- Rules & Responsibilities." White House video. (Speech at the U.S. Chamber of Commerce, Feb. 7, 2011). (Outline).

 

• Malawer, Blog - Obama State of the Union -- Rules & Responsibility (January 26, 2012).

  • President Obama's video from 2012 State of Union on Trade. USTR Blog (January 25, 2012).

   

• Review of U.S. highlights in global trade for 2011. USTR 2011 Trade Review (December 2011). 

 

• "President Obama Proposes Reorganizing Trade Agencies." Wall Street Journal (Jan. 13, 2012).

  • "Trade Reorganization Fact Sheet." (White House) (January 13, 2012).

  • Video -- "Obama Announcement of Trade Reorganization Proposals." (January 12, 2012).

  • Malawer, Blog -- Obama Trade Reorganization (Jan. 14, 2012).

  • "Obama -- Exports on Track." New York Times (January 20, 2012).

 

                  At the White House (11.10.08).

2.      Multilateral Trading System, Trade  History and Post-2008 Landscape

• Dean Rusk, "Diplomacy & Foreign Policy." (Foreign Affairs 1960).

• Multilateral Trading System, Six  Decades Post-War, Trade History -- "Executive Summary  / Present & Future Challenges,"  World Trade Report -- 60 Year Review iii-vi,   361 - 362 (WTO 2007).

• "U.S. Trade Policy Review." (WTO Report 2006).

•   Trade in a Globalizing World." World Trade Report 2008 13-22  (WTO 2009).

3.    Trade Agreements, Trade Policy and Foreign Policy – U.S. Constitutional Dimensions.  

• "Trade -- Executive Agreements & Formal Treaties." (CRS 2008).

• "Foreign Trade & Global Economic Policies." (InfoUSA 2008).

·   Consumers Union v. Kissinger (DC. Cir. 1974). ("Separation of Powers .... Congressional Authority .... Delegation of Legislative Power.... Executive Action ....Voluntary Restraint Arrangements").

·      United States v. Curtis-Wright Export Corp. ( S. Ct. 1936). ("Separation of Powers ... "Delegation of Authority ... Foreign / Domestic Powers.... Role of Executive ...'One Voice' ").

·        Burma Trade Sanctions Case ( S. Ct. 2000).  ("Federalism ... Implied Preemption").

4.      U.S. Rule-Making (Agencies) and  U.S. Trade Enforcement. 

• Lawrence, “The U.S. & the WTO Dispute Settlement System.” (Council on Foreign Relations 2007).

• Trade Agreements & Enforcement: 

  • USTR  -- Trade Agreements.

  • USTR  -- Global Agreements.

  • USTR --   Trade Law Enforcement.

5.     U.S. & Global Trade Remedies -- A/ D, CVD, Safeguards & "Retaliation."

• “Statutory Provisions Related to Import Relief.” (1998) .

• "Trade Remedies: A Primer." (CRS 2007).

•   Section 301 of Trade Act of 1974. 

• "U.S. Launches §301 Investigation into Trade &  Investment Policies in Green Technologies."  USTR Announcement (10.15.10).

•  2010 National Trade Estimate (NTE) & Trade Barriers.   (by USTR).

•  "Worldwide Antidumping Cases -- 1995-2005."  (Congressional Research Service, 2006) (graphs).

•  "Antidumping Investigations (1995-2010). " WTO (Semi-Annual Report of  A/D Practices Committee) (2011).

•  "Countervailing Duties Initiated (1995 - 2010)." WTO (Semi-Annual Report of SCM Committee) (2011).

•  "Safeguard Notifications to the WTO (1995 - 2010)." WTO (Safeguard Committee) (2011).

6.      Export & Reexport Controls & Other Corporate Laws -- Extraterritoriality.  

• Malawer, U.S. Multinational Corporations and International Transactions (March 2011) (outline). 
• Malawer, Extraterritoriality  of  U.S. Economic Legislation (2011) (PowerPoint). 
• "Law & National Borders -- Legal Minefields sit on National Borders." Financial Times (5.2.11).

 

• President Obama -- Video on Export & Trade Promotion ("National Export Initiative') (March 2010). This frames the globalization and trade debate and export promotion as the principal trade policy initiative by the Obama administration.

• Reexport Controls  

• Export Enforcement.  

 

• The reach of Sarbanes-Oxley (2002) concerning corporate governance and financial oversight is extraterritorial as to foreign auditors auditing foreign companies listed in the U.S., including "reverse mergers," especially of Chinese companies lately. "Reverse Mergers and U.S. Regulators." Financial Times (July 5, 2011).

• The Dodd-Frank legislation (2010) has a number of extraterritorial provisions, for example, concerning  payments to foreign governments, war minerals and new restrictions on proprietary trading and the derivatives business that apply in foreign countries if there’s a “direct and significant connection with activities.” "Dodd-Frank Legislation -- Exotic Provisions." New York Times (July 13, 2011). 

• The Commodity Exchange Act and the Commodity Futures Trading Commission (CFTC) are applying  rules extraterritorially to investigation actions of foreign banks and commodity traders a concerning Libor (the London based index). "Criminal Route Eyed in Libor Inquiry." Financial Times (Sept. 8, 2011).

• The U.S. Dept. of Justice uses as leverage in order to secure guilty plea in an international antitrust case a threat of a 10-year travel ban for executives. A plea agreement will waive this ban. "U.S. Accused of Unfair Antitrust Tactic." Financial Times (Sept. 21, 2011).

                        

7.      Trade Sanctions -- Basics and Effectiveness.  

• “Economic Sanctions, Reconsidered” (2007) (“Conclusions”).

• Office of Foreign Asset Control (Treasury) – Trade Sanctions.

8.     Foreign Corrupt Practice (Corruption) & Antiboycott (Foreign  Boycotts). 

• Anti-Boycott Office.

• Reporting boycott request online.

• Corrupt Practices. (USDOJ)

• OECD Convention on Combating Bribery (1999).

• U.N. Convention against Corruption (2005).  

9.    National Security and Foreign Investment (FDI and Sovereign Wealth Funds -- SWF). 

• Malawer, “Global Mergers & National Security.” Virginia Lawyer (December 2006);

• U.S. FDI Abroad. (GAO Report 2007).

• “National Security Reviews.” (GAO March 23, 2007).  

• "Foreign Investment, CFIUS, and Homeland Security." (CRS 2010). 

• Committee on Foreign Investment into the U.S. (CFIUS) & Exon-Florio.

                   

10.  U.S. and Global Tax and Financial Regulation. 

• "Globalization and the New Nationalism Collide." Financial Times (10.24.08).  

• Lamy, WTO -- "Three Finance Issues & Trade." WTO News (12.18.08).

• "How a Multinational Company like GE handles Taxes." Washington Post (4.10.11). 

• "U.S. Multinationals, Jobs Abroad & Economic Globalization (and video)." Wall Street Journal (4.19.11).

• "Foreign Incorporation & Globalization." New York Times (December 20, 2011).

   

11.  Comparison of Democratic and Republican Trade Positions.

• Top 10 Global Economic Challenges for the New President (Brookings, Oct. 2008).

               General Comments on Trade and Elections.

• "Some Truth about Trade." New York Times (Lead Editorial -- April 6, 2008).

• "The Selfish Hegemon must offer a New Deal on Trade." Financial Times (August 20, 2008).

• “The Global Consensus is Unraveling.” Financial Times (August 25, 2008).  

• "Bush Foreign-Policy Image."   Wall Street Journal (9.13.08).  

• "Trade Saves The Day." Washington Post (Sept. 17, 2008).

• "Managing Foreign Policy & National Security in Presidential Transitions." Wash. Quarterly (Autumn 2008).

                                      12.  2012 Presidential Election, President Obama & U.S.  Trade Policy.

• "Obama, Trade and Leadership." Financial Times (12.22.08).

• President Obama calls  for reorganization of trade agencies, review of international corporate taxation, and general promotion of trade and commercial diplomacy.  Obama, "Globalization, Exports & Trade." White House video. (Speech at the U.S. Chamber of Commerce, Feb. 7, 2011). (Outline).

• "U.S. Inbound Foreign Direct Investment." (Council of Economic Advisers, June 2011).

• The Senate passed the three bilateral free-trade agreements with Panama, Columbia ns South Korea and revised the Trade Adjustment Assistance program. This was a major achievement of the Obama administration  "Free Trade Agreements (FTA)  and Trade Adjustment Assistance (TAA)." USTR News (10.14.11).

• "President Obama Proposes Reorganizing Trade Agencies." Wall Street Journal (Jan. 13, 2012).

13. U.S. - China Trade Relations-- Trade Disputes (2001 - 2012).

• The AB upheld this decision in Sept. 2011. "U.S. Prevails in WTO Dispute about Chinese Tire Imports." USTR News (September 2011). 

• "The Folly of Export Restrictions." Financial Times (Editorial July 7, 2011). "It's Protectionism." New York Times (July 19, 2011).        

• China's direct investments in the U.S. Asia Society Report on China Investment in the U.S. (May 2011). "As China Invests, U.S. Could Lose." New York Times (May 5, 2011).

• China is emulating the U.S. enforcement and is "creeping protectionism" and shows the weakness of an "enforcement-centered trade policy. "The Cost of Trade "Enforcement." (Editorial)  Wall Street Journal (10.23.09).  

• Malawer, "Chinese Corporate Investment & State Economic Development in the U.S. -- Legal & Policy Issues" New York Law Journal (October, 2011). 

• The Congress passed legislation requiring estimates of currency undervaluation when calculating anti-subsidy import tariffs. "U.S. Senate to Vote on China Tariffs." Financial Times (Sept. 29, 2011). This is considered by many to be illegal under WTO rules. "China Bashing is Back with a Bang." Financial Times (Sept. 30, 2011). "U.S. Congress Presses China on Currency." Financial Times (10.3.11).

14.  Course Review.