Author: Vladimir N Pregelj
Publisher:
ISBN:
Category :
Languages : en
Pages :
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The United States accords permanent normal-trade-relations (NTR) (formerly called most-favored-nation (MFN)) treatment to all its trading partners except four countries to which it is denied by law and 11 countries whose NTR status is temporary and subject to the conditions of Title IV of the Trade Act of 1974.
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Category : Favored nation clause
Languages : en
Pages : 2
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The United States accords permanent normal-trade-relations (NTR) (formerly called most-favored-nation (MFN)) treatment to all its trading partners except two countries to which it is denied by law and ten countries whose NTR status is temporary of a three-year, renewable bilateral trade agreement). restoration under the provisions of Title IV of the Trade Act of 1974.
Author:
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Category :
Languages : en
Pages :
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Author: Vladimir N. Pregelj
Publisher:
ISBN:
Category : Favored nation clause
Languages : en
Pages : 0
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Book Description
In international trade, the term most-favored-nation (MFN) treatment has a meaning at variance with what it appears to mean: the expression means equal-rather than exclusively favorable-treatment and is often used interchangeably with "nondiscriminatory." To make this distinction clearer and avoid a possibly misleading interpretation of the most-favored-nation term, legislation was enacted in 1998 to replace it in U.S. law with the term "normal trade relations," or NTR. In this report, both terms are used interchangeably with "nondiscriminatory." The United States accords general MFN treatment as a matter of international obligation as well statutory policy to all trading partners; however, MFN tariff treatment of several countries has been suspended under specific legislation. Virtually all such suspensions, initially applied to 21 countries or political entities, took place under the mandate of the Trade Agreements Extension Act of 1951, and two more under country-specific legislation. MFN tariff treatment of countries suspended under the 1951 law can be restored and maintained in effect for one-year periods by using the procedure provided under Title IV of the Trade Act of 1974 for such restoration to "nonmarket economy" (NME) countries. Under this procedure, an NME country needs to conclude with the United States a trade agreement containing a reciprocal MFN clause, and be in compliance with the criteria of the Jackson-Vanik (J-V) freedom-of-emigration provision of that act. The two countries whose MFN status was suspended by country-specific legislation could-and did-have it restored by Presidential action under conditions specified in the suspending law. Of the 29 countries, today's successors of countries or areas originally subject to the 1951 suspension, 15 had their permanent NTR status restored by specific legislation (five directly and ten after a period of conditional restoration under the Jackson-Vanik amendment), one (Poland) by the President under then existing statutory authority, and one (East Germany) administratively through unification with West Germany. The status of seven of them is still temporary, subject to the determination of full-compliance with the Jackson-Vanik amendment, and of three of them under the Jackson-Vanik waiver provision. Two countries (Cuba, and North Korea) are denied NTR status altogether. The NTR status of two countries, suspended by individual legislation, has been restored permanently by Presidential action as authorized by the suspending legislation. This report will be updated as warranted.
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Category :
Languages : en
Pages : 0
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Book Description
In international trade, the term most-favored-nation (MFN) treatment has a meaning at variance with what it appears to mean: the expression means equal -- rather than exclusively favorable -- treatment and is often used interchangeably with "nondiscriminatory." To make this distinction clearer and avoid a possibly misleading interpretation of the most-favored-nation term, legislation was enacted in 1998 to replace it in U.S. law with the term "normal trade relations," or NTR. In this report, both terms are used interchangeably with "nondiscriminatory." The United States accords general MFN treatment as a matter of international obligation as well statutory policy to all trading partners; however, MFN tariff treatment of several countries has been suspended under specific legislation. Virtually all such suspensions, initially applied to 21 countries or political entities, took place under the mandate of the Trade Agreements Extension Act of 1951, and two more under country-specific legislation. MFN tariff treatment of countries suspended under the 1951 law can be restored and maintained in effect for one-year periods by using the procedure provided under Title IV of the Trade Act of 1974 for such restoration to "nonmarket economy" (NME) countries. Under this procedure, an NME country needs to conclude with the United States a trade agreement containing a reciprocal MFN clause, and be in compliance with the criteria of the Jackson-Vanik (J-V) freedom-of-emigration provision of that act. The two countries whose MFN status was suspended by country-specific legislation could -- and did -- have it restored by Presidential action under conditions specified in the suspending law. Trade agreements with NME countries must be approved by joint resolution, and are triennially self-renewable, but their renewal is also subject to Presidential confirmation. To maintain in force the compliance with the J-V criteria (and the MFN status), such compliance must be either determined semiannually, or waived annually, by the Secretary of State, and such determinations or waivers are annually subject to possible disapproval by joint resolution. Repeated past legislative action to disapprove some waivers, particularly those for China, has been unsuccessful and NTR treatment contingent on a waiver has invariably remained in effect. Permanent restoration of NTR status of any country generally requires specific legislation. Of the 29 countries, today's successors of countries or areas originally subject to the 1951 suspension, 15 had their permanent NTR status restored by specific legislation (five directly and ten after a period of conditional restoration under the Jackson-Vanik amendment), one (Poland) by the President under then existing statutory authority, and one (East Germany) administratively through unification with West Germany. The status of seven of them is still temporary, subject to the determination of full-compliance with the Jackson-Vanik amendment, and of three of them under the Jackson-Vanik waiver provision. Two countries (Cuba, and North Korea) are denied NTR status altogether. The NTR status of two countries, suspended by individual legislation, has been restored permanently by Presidential action as authorized by the suspending legislation. This report will be updated as warranted.
Author: Vladimir N Pregelj
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Author: Pregelj
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Author: United Nations Conference on Trade and Development
Publisher:
ISBN:
Category : Political Science
Languages : en
Pages : 164
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Book Description
The publication contains an explanation of Most Favored Nation (MFN) treatment and some of the key issues that arise in its negotiation, particularly the scope and application of MFN treatment to the liberalization and protection of foreign investors in recent treaty practice. The paper provides policy options as regards the traditional application of MFN treatment and identifies reactions by States to the unexpected broad use of MFN treatment, and provides several drafting options, such as specifying or narrowing down the scope of application of MFN treatment to certain types of activities, clarifying the nature of "treatment" under the IIA, clarifying the comparison that an arbitral tribunal needs to undertake as well as a qualification of the comparison "in like circumstances" or excluding its use in investor-State cases.
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ISBN:
Category : Foreign trade regulation
Languages : en
Pages : 14
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Book Description
Author: John Howard Jackson
Publisher: MIT Press
ISBN: 9780262600279
Category : Business & Economics
Languages : en
Pages : 464
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Book Description
Since the first edition of The World Trading System was published in 1989, the Uruguay Round of trade negotiations has been completed, and most governments have ratified and are in the process of implementing the General Agreement on Tariffs and Trade (GATT). In the Uruguay Round, more than 120 nations negotiated for over eight years, to produce a document of some 26,000 pages. This new edition of The World Trading System takes account of these and other developments. Like the first edition, however, its treatment of topical issues is grounded in the fundamental legal, constitutional, institutional, and political realities that mold trade policy. Thus the book continues to serve as an introduction to the study of trade law and policy. Two basic premises of The World Trading System are that economic concerns are central to foreign affairs, and that national economies are growing more interdependent. The author presents the economic principles of international trade policy and then examines how they operate under real- world constraints. In particular, he examines the extremely elaborate system of rules that governs international economic relations. Until now, the bulk of international trade policy has addressed trade in goods; issues inadequately addressed by policy include trade in services, intellectual property rights, certain investment measures, and agriculture. The author highlights the tension between legal rules, designed to create predictability and stability, and the governments need to make exceptions to solve short-term problems. He also looks at weaknesses of international trade policy, especially as it applies to developing countries and economies in transition. He concludes with a look at issues that will shape international trade policy well into the twenty-first century.
