International Law Chapter 8

A free trade agreement usually refers to one with:

A free trade area providing favorable tariff treatment, often based on geography.

The court of record with original jurisdiction to hear a dispute about the trade or tariff laws of the US is

Court of International Trade

A famous example of US law that motivated other counties to implement retaliatory tariffs which as a result hurt the US economy during the Depression was:

Smoot-Hawley Tariff Act

__________ is not a non-tariff trade barrier.

Unconditional MFN trade

Company A in the US sells and exports widgets to Nigeria. The US lowers its tariff on foreign-manufactured widgets from 6.0% to 4.0%. Company A will then pressure the US to demand:

A reciprocal tariff concession from Nigeria on widgets or similar imports.

When the US Congress enacts a scheme of legislation or regulation in an area that prevails over inconsistent state regulation, the acts of Congress will prevail under the:

Doctrine of federal preemption (federal law is supreme or dominant over state law)

You are the chief official in designing US trade policy. You wish to erect non-tariff trade barriers to Greek wine entering this country. This is politically sensitive given Greece's financial condition. Which strategy is the "sneakiest" and least likely to be made a political issue by angry Greek politicians?

Hidden or extra "red tape" in the importing process that causes delays.

You are asked by your local Congressman what the status of the Trans Pacific Partnership Agreement (TPP) is as of June 2017. How do you respond?

It remains in effect but the US is not a member, and China has never been member

A means to prevent multiple taxations by a state or multinational corporation is to offer the taxpayer a

Water's edge election

Miami places a "Port tax" on services provided by the port authorities to vessels entering the port from any destination, e.g., entry taxes, inspection charges, wharf fees, etc. Is this constitutional?

Yes, under the precedent of Department of Revenue of the State of Washington case.

A states' authority to tax a business engage in foreign commerce may be determined by whether or not the imposed tax:

Results in multiple taxation

The _____ vests the federal government with exclusive control over foreign commerce.

Commerce Clause

The Import-Export Clause of the US Constitution specifically prohibits states from taxing:

both imports and exports - federal control viewed trade policy as part of national foreign policy. It was meant to be uniform in all areas and to be an important source of revenue for the national government.

The President is concerned with fighting terrorism by tracking and stopping funding of terrorist groups who use the US banking system. He wants to know which agency he should speak to about this narrow issue broadly within the world of foreign trade. To which agency or group should he speak to?

Bureau of Financial Crimes Enforcement Network (FinCEN)

A law granting favorable tariff treatment to imports for developing countries is called a:

Trade preference

The Trade Reform Act of 1974 created a "fast track" process for approving trade agreements, known as the president's

Trade promotion authority - President informs Congress which then votes "up or down" such proposed item