54: international and world trade law

Question 1

foreign commerce clause

Answer 1

a clause of the US constitution that vests congrss with the power “to regulate commerce with foreign nations”

Question 2

treaty clause

Answer 2

a clause of the US const that states that the president “shall have the power… to make treaties, provided two-thirds of the senators present concur”

Question 3

convention

Answer 3

a treaty that is sponsored by an international organization

Question 4

general assembly

Answer 4

the legislative body of the UN that is composed of all member nations

Question 5

security council

Answer 5

a council of the UN that is composed of 15 member nations, five of which are permanent memvers and 10 of which are chosen by the members of the general assembly, and which is responsible for maintaining international peace and security

Question 6

veto power

Answer 6

the pwer of each of the five permanent members of the security council of the UN to prevent the adoption of any substantive resolution of the UN

Question 7

secretariat

Answer 7

a staff of persons that administers the day to day operations of the UN; headed by the secretary general

Question 8

secretary-general

Answer 8

person who heads the secretariat of the UN, elected by the general assembly

Question 9

world bank

Answer 9

an agency of the UN whose primary function is to provide money to developing counries to fund projects for humanitarian purposes and to relieve poverty

Question 10

international monetary fund / IMF

Answer 10

an agency of the UN whose primary function is to promote sound monetary, fiscal, and macroeconomic policies worldwide by providing assistance to needy countries

Question 11

united nations children’s fund / UNICEF

Answer 11

an agency of the UN whose goal is to provide humanitarian aid and assistance to children and mothers, primarily in developing countries

Question 12

international court of justice / ICJ / world court

Answer 12

the judicial branch of the UN that is located in the hague, the netherlands

Question 13

regional trade agreement

Answer 13

an agreement among multiple countries of a region that delineates terms of trade between the member countries

Question 14

EU members

Answer 14

austria, belgium, bulgaria, croatia, cyprus (the greek part), czech republic, denmark, estonia, finland, france, germany, greece, hungary, ireland, italy, latvia, lithuania, luxembourg, malta, netherlands, poland, portugal, romania, slovakia, slovenia, spain, swedano

Question 15

council of ministers

Answer 15

a council of the EU that is composed of reps from each member country who meet periodically to coordinate efforts to fulfill the objectives of the EU

Question 16

european union commission

Answer 16

a commission that is independent of its member nations, that has been delegated substantial powers, including authority to enact legislation and to take enforcement actsions to ensure member nations’ compliance with the EU treaty

Question 17

council of ministers

Answer 17

a council of the EU that is compoased of representatives from each member country who meet periodically to cooperate efforts to fulfill the objectives of the EU

Question 18

european union commission

Answer 18

a commission that is independent of its member nations, that has been delegated substantial powers, including authority to enact leagislation and to take enforcement actions to ensure member nations’ compliance with the EU treaty

Question 19

north american free trade agreement / NAFTA

Answer 19

a treaty that removed or reduced tariffs, duties, quotas, and other trade barriers between the US, canada, and mexico. replaced by the US–mexico–canada agreement (USMCA) in 2020

Question 20

new provisions of the USMCA

Answer 20

digital trade
intellectual property
labor provisions
automobiles and automotive parts
agricultural products
energy
textiles
financial services
non-market practices
currency manipulation
environment

Question 21

association of southeast asian nations / ASEAN

Answer 21

an agreement among nations of SE asia that reduces tariffs on products traded among the signatory counties and provides economic and other coordination among member nations

Question 22

ASEAN plus three / APT

Answer 22

an agreement among the member naions of SE asian nations (ASEAN) plus china, japan, and south korea to meet regularly to discuss regional issues

Question 23

regional comprehensive economic partnership / RCEP

Answer 23

a regional trade agreement between 15 countries of asia and pacific region that creates the world’s largest regional trade zone

Question 24

comprehensive and progressive agreement for trans-pacific partnership / CPTPP

Answer 24

a regional trade agreement between 11 countries of the indo-pacific region that eliminates tariffs across a broad range of products and services

Question 25

organization of the petroleum exporting countries / OPEC

Answer 25

an association composed of many of the oil-producing countries of the world

Question 26

mercosur / mercosul / southern common market

Answer 26

a regional trading organization in south america composed of argentina, brazil, paraguay, and uruguay

Question 27

andean community of nations / andean community / CAN

Answer 27

a regional trading organization in south america composed of bolivia, columbia, ecuador, and peru

Question 28

central america--dominican republic free trade agreement / CAFTA-DR

Answer 28

an association of several central american countries and the US designed to reduce tariffs and trade barriers among member nations

Question 29

common market of eastern and southern africa / COMESA

Answer 29

a regional trading block of countries located in eastern and southern africa

Question 30

economic community of west african states / ECOWAS

Answer 30

a regional trading bloc of countries located in west africa

Question 31

east african community / EAC

Answer 31

a regional trading bloc of countries located in east africa

Question 32

african union / AU

Answer 32

an organization composed of the countries located on the african continent whose goal is to establish an integrated, politically united, and prosperous african continent based on the ideals of pan-africanism and africa's renaissance

Question 33

african continental free trade area / AfCFTA

Answer 33

a regional trade agreement among the countries of africa that would establish a single continental trade market for goods and services that would reduce tariffs, encourage investment, and promote job creation

Question 34

WTO panel

Answer 34

a body of three WTO judges that hears trade disputes between member nations and issues a panel report

Question 35

WTO dispute settlement body

Answer 35

a board composed of one representative from each WTO member nation that reviews panel reports

Question 36

WTO appellate body

Answer 36

a panel of seven judges selected from WTO member nations that hears and decides appeals from decisions of the dispute settlement body

Question 37

choice of forum clause / forum-selection clause

Answer 37

a clause in an international contract that designates which nation's court has jurisdiction to hear a case arising out of the contract

Question 38

choice of law clause

Answer 38

a contract provision that designates a certain state's law or country's law that will be applied in any dispute concerning nonperformance of the contract

Question 39

act of state doctrine

Answer 39

a doctrine that states the judges of one country cannot question the validity of an act committed by another country within that other country's borders. it is based on the principle that a country has absolute authority over what transpires within its own territory

Question 40

doctrine of sovereign immunity

Answer 40

a doctrine that states that countries are granted immunity from suits in courts of other countries

Question 41

qualified immunity / restricted immunity

Answer 41

a doctrine that states that foreign governments have qualified immunity from suits in US courts, and are therefore subject to prosecution in US courts under certain circumstances

Question 42

foreign sovereign immunities act / FSIA

Answer 42

a federal statute that exclusively governs suits against foreign nations thatare brought in federal or state courts in the US. it codifies the principle of qualified/restricted immunity

Question 43

commercial activity exception

Answer 43

an exception that states that a foreign country is subject to lawsuits in the US if it engages in commercial activity in the US or if it carries on such activity outside the US but causes a direct effect in the US