International Trade
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Abstract
In 2008, the field of international trade experienced considerable activity in some areas and virtual stagnation in others. The World Trade Organization (WTO) welcomed two new members in 2008: Ukraine and Cape Verde. Progress on Russia's accession suffered a setback in 2008 due to the Russian-Georgian War in South Ossetia and Abkhazia and other bilateral issues. Additionally, the expiration of Trade Promotion Authority (TPA) in 2007 and the U.S. presidential and congressional elections created uncertainty as to whether the next administration would honor U.S.-negotiated agreements and whether the new Congress would approve them. Thus, despite optimism that a conclusion to the Doha Development Round was possible in 2008, world financial problems and continued disagreement on key issues between developed and developing countries forestalled a global trade deal this year. Negotiations on agriculture and non-agricultural market access (NAMA) modalities also collapsed at the Ministerial meeting in July 2008. Fourteen new WTO disputes were initiated in 2008, compared to thirteen disputes in 2007. In terms of WTO dispute settlement decision making, thirteen Panel Reports and eight Appellate Body Reports were issued, representing a significant increase compared to 2007. The most significant decision issued by the Appellate Body in 2008 was in US! Canada-Continued Suspension of Obligations in EC-Hormones, as it marked the first time the Appellate Body addressed "post-retaliation" situations, which are not covered by current WTO disciplines. The Panels and Appellate Body also continued to express divergent views on the issue of zeroing in 2008. In NAFTA dispute settlement, the binational panel in Carbon & Alloy Steel Wire Rod from Canada declared itself a "generic or virtual United States court" but then followed decisions of the WTO Appellate Body regarding