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Vol 23 No 5 May/June 2018

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Cover of Drafting Commercial Agreements

Drafting Commercial Agreements

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This book is now Out of Print.
A new edition has been published, the details can be seen here:
Trade in Goods: An Analysis of International Trade Agreements 2nd ed isbn 9780199657483

Trade in Goods: An Analysis of International Trade Agreements

ISBN13: 9780199552139
New Edition ISBN: 9780199657483
Published: August 2008
Publisher: Oxford University Press
Country of Publication: UK
Format: Paperback
Price: Out of print
Hardback edition out of print, ISBN13 9780199239030

This book analyses the establishment and operation of international agreements regulating trade in goods, focusing on the General Agreement on Tariffs and Trade (GATT).

The book outlines the history of the international trading system from the creation of the first GATT agreement in 1947 to the establishment of the World Trade Organization in 1994. The major substantive provisions of the GATT are then analysed alongside the other foundational trade agreements of the WTO, clarifying the economic rationale for the current legal framework.

Throughout the book it is maintained that the agreements themselves represent 'incomplete contracts', realized through interpretation by the WTO and other judicial bodies. A comprehensive analysis of the case-law is provided, where it is argued that a more rigorous theoretical approach is needed to ensure a greater coherence to the interpretation of the core provisions regulating trade in goods.

The book presents an extension and elaboration of the author's views expressed in The General Agreement in Tariffs and Trade: A Commentary (OUP, 2005).

International Trade
1. From GATT 1947 to GATT 1994
1.1 The Genesis of the GATT
1.2 Why the GATT?
1.3 The GATT in the GATT-era: an agreement, and an institution as well
1.4 The GATT rounds of trade liberalization
1.5 Expanding the GATT: the emergence of the Codes
1.6 The GATT in the WTO-era: just an agreement, albeit a pivotal one
1.7 The modern GATT-discipline in a nutshell
2. Disciplines on trade instruments
2.1 Introduction
2.2 The Treatment of Quantitative Restrictions
2.3 Tariff protection in the GATT
2.4 Export subsidies
3. Domestic instruments
3.1 National treatment and its rationale
3.2 The coverage
3.3 National Treatment and negative integration
3.4 National Treatment: The Legal Discipline
3.5 Dealing with non tariff barriers (NTBs)
3.6 State trading enterprises (STEs)
4. State contingencies
4.1 Introduction
4.2 National security (Art. XXI GATT)
4.3 Balance of payments
4.4 Exchange restrictions
4.5 Antidumping (Art. VI GATT)
4.6 Countervailing duties
4.7 Safeguards
4.8 The notion of market access re-visited
5. Institutional Provisions
5.1 Introductory remarks
5.2 Participation
5.3 Decision making
5.4 Dispute settlement
5.5 Waivers
5.6 Transparency
5.7 Relation to the Havana Charter
6. The GATT, then and now
6.1 The GATT 1947: a solid text (with some compromises)
6.2 The evolution of the GATT: no keeping up with the Joneses
6.3 Rule of reason