International Business Law Ch 8

Pataasin ang iyong marka sa homework at exams ngayon gamit ang Quizwiz!

Federal Agencies Affecting Trade (8)

- Dept. of Commerce - Bureau of Industry & Security - Dept. of Homeland Security - Border & Transportation Protection - USTR - Dept. of the Treasury - International Trade Commission - U.S. Court of International Trade

The Commerce Clause

- State Income Taxation of Multinational Corps. - State restrictions on imports/exports - gives federal government exclusive control over foreign commerce - state governments may not enact laws that impose a substantial burden on foreign commerce

Japan Line, Ltd. v. County of L.A. (1979)

- ad valorem property tax on containers used exclusively in foreign commerce violates the Commerce Clause because it resulted in multiple taxation of instrumentalities of foreign commerce

Equal Dignity Rule

- an act of Congress can override an inconsistent prior treaty - a treaty will override an inconsistent prior act of Congress - statutes and treaties are of equal dignity - if there in conflict between the statute and treaty, the latest one created prevails

Unconditional MFN Trade (AKA Normal Trade Relations)

- any new lower tariff that applies to any item imported from one MFN trading partner automatically applies to the same or like items imported from all other nations that are in MFN status with the importing country, without any concession being required from those nations in return

Conditional MFN Trade

- any trading advantage applied to an item imported into a country will also be applied to the same or like items coming from any other country that has MFN status with the importing country, provided that the country reciprocates and lowers its tariff rates in an equivalent amount in return

United States Trade Representative

- carries out all bilateral and multilateral trade negotiations on behalf of U.S.

Star-Kist Foods, Inc v. U.S.

- congressional delegation to President was constitutional and guided decisions based on purpose of the act - president lowered tariff on tuna; Starkist produced tuna in U.S. and was in favor of high tariffs

Trade Expansion Act of 1962

- created office of U.S. Trade Representative

U.S. Court of International Trade

- exclusive jurisdiction over all civil actions against U.S. that involve revenue from imports, tariffs, embargoes, or quantitative restriction (except for health and safety) and enforcement of customs laws

Omnibus Trade and Competitiveness Act of 1988 (NAFTA)

- extended the president's authority to negotiate trade agreements - led to NAFTA, CAFTA, and AEWTO

Supremacy Clause

- federal preemption - Arizona v. U.S. (2012)

Trade Reform Act of 1974

- gave more power to the President - set up a fast track process for approving trade agreements for the president

U.S. Dept. of Commerce

- includes control of exports as well as International Trade Administration or ITA

Congressional-Executive Agreements

- international agreements between the pres and a foreign country negotiated and concluded by the president and voted into law by a simple majority vote of Congress - substitute process (instead of treaties) permitting intl agreements to be approved by statute or by joint resolutions of both houses - easier for president to get simple majority vote rather than 2/3 in Senate

The Reciprocal Trade Agreements Act of 1934

- introduced Most Favorable Nation status (now known as Normal Trade Relations) - provided President with authority needed to lower tariffs

International Trade Commission

- investigates unfair trade practices

The Import-Export Clause

- prohibits the federal government from taxing exports and prohibits the states from taxing either imports or exports - taxes permitted under this clause when the tax is being imposed on all products for the purpose of supporting the cost of public services, is nondiscriminatory, and doesn't interfere with the fed government's regulation of international commerce

Smoot-Hawley Tariff Act of 1930

- raised tariffs to extreme high - international retaliation - exacerbated the G.D.

Dole v. Carter

- regards returning the crown to Hungary - agreement to return the crown was found to not be a treaty requiring ratification by the Senate - instead, it was a valid executive agreement based on the president's inherent power

Youngstown Sheet & Tube v. Sawyer

- steelworkers threatened to strike during Korean War - would lead to a shortage of steel during the war - Truman order Sec. of Commerce to seize the steel mills and keep them in operation - court found that the president was not acting pursuant to an act of Congress & he could not justify the seizure of private property on the basis of inherent power


Kaugnay na mga set ng pag-aaral

prep u : Med Surg ch 3 - Critical Thinking, Ethical Decision Making, and the Nursing Process, ch. 4 - Health Education and Health Promotion

View Set

Business Management - Brand Promise

View Set

Final Exam Chapter 13, 14, 15, and 16

View Set

Intro to Psych Unit 1 Test (1-5)

View Set

Quiz: Third-Party Policy Ownership

View Set