WTO Trade Court: Who Are These Guys Anyway? | Aero-News Network
Aero-News Network
RSS icon RSS feed
podcast icon MP3 podcast
Subscribe Aero-News e-mail Newsletter Subscribe

Airborne Unlimited -- Recent Daily Episodes

Episode Date

Monday

Tuesday

Wednesday

Thursday

Friday

Airborne On ANN

Airborne 12.05.16

Airborne 12.06.16

Airborne 12.07.16

Airborne 12.08.16

Airborne 12.02.16

Airborne Hi-Def On YouTube

Airborne 12.05.16

Airborne 12.06.16

Airborne 12.07.16

Airborne 12.08.16

Airborne 12.02.16

Thu, Jun 02, 2005

WTO Trade Court: Who Are These Guys Anyway?

World Trade Court Has Real Power

It's the biggest case ever to go before the World Trade Organization's court. Worth billions of dollars to both Airbus and Boeing, the subsidy dispute between the US and the EU will likely take several years and several million dollars to resolve. And the people who will decide the case probably won't even be judges -- at least, not full-time judges.

That's the way it is at the intersection of law and trade. The WTO court is staffed by freelance judges -- often diplomats -- who have very little knowledge of legal practices but are strong in their negotiating skills. For most who have sat on the WTO bench in the past, it's their first time ever settling a trade dispute.

The WTO court is chaired by a three-person panel of judges. It has real power. Just ask President George W. Bush. Two years ago, the WTO court forced him to abandon tarrifs aimed at protecting the struggling US steel industry from foreign competition. The lever in that ruling was the threat of $2 billion in trade sanctions.

Both US and EU eaders are leery of the court. "WTO panels are making up new rules," Montana Democratic Sen. Max Baucus wrote in response to questions from The Wall Street Journal. He said they "have invented rules that do not appear in any negotiated agreement -- then used those rules to strike down US laws and policies."

An EU study found the WTO panel system should be altered, saying "panelists do not have time to develop expertise in the procedural and technical aspects of the dispute settlement system."

Even the judges themselves complain, saying they can't hear cases and keep their day jobs at the same time. But that's just what they're expected to do. And if they have a hard time understanding the trade laws upon which they rule, you can imagine how difficult it is for the countries involved to interpret and implement those rulings.

FMI: www.wto.org

Advertisement

More News

ANN Presents: Bob Hoover Memorial Celebration of Life (11.18.16 -- Special Edit)

Honoring A Great Man, A Great Pilot, A Great American -- and Above All Else… A Great Friend Bob Hoover was, to virtually everyone in the aviation world, the “Pilot&rsq>[...]

Airborne 12.06.16: SpaceX Launching Soon!, 787 AD, DJI Inspire 2

Also: P-51C 'Tuskegee Airmen', Aero-Calendar, EASA Mandate, Master Instructor, 737 MAX Thrust Reverser, LaMia Airline, Flying Colours SpaceX could return to flight by the middle of>[...]

Satcom Direct SD Completes Its Acquisition Of TrueNorth Avionics

Finalization Of The Deal Announced At MEBAA Global aeronautical communications provider Satcom Direct (SD) announced today at MEBAA 2016 that it has closed its purchase of TrueNort>[...]

AD: Fokker Services B.V. Airplanes

AD NUMBER: 2016-24-05 PRODUCT: All Fokker Services B.V. Model F28 Mark 0070 and 0100 airplanes.>[...]

AD: The Boeing Company Airplanes

AD NUMBER: 2016-19-16 PRODUCT: Certain The Boeing Company Model 707-300, 707-300B, and 707-300C series airplanes; and certain Model 727C, 727-100C, and 727-200F series airplanes.>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2016 Web Development & Design by Pauli Systems, LC