Internationaltradelaw.doc

International trade law: an overview
International trade is “the exchange of goods [or] services”“between nations.” Black’s Law Dictionary 285, 1529 (8th ed. 2004).
Sources of international trade law
Constitutional, federal, and international laws govern international trade between the United States and foreign nations (or persons or entities therefrom). Federal and international laws address a wide range of trade issues, such as customs duties, dumping, embargoes, free trade zones, intellectual property, quotas, and subsidies.
merce Clause of the . Constitution empowers Congress to “merce with foreign nations,” . Const. Art. I, § 8, cl. 3, while other Article I provisions empower Congress to “lay and collect taxes, duties, imposts, and excises,” id. at Art. I, § 8, cl. 1, and prohibit states from doing the same without congressional approval, id. at Art. I, § 10, cl. 2. Pursuant to this authority, Congress has enacted numerous federal statutes, including the Tariff Act of 1930, the Trade Act of 1974, and the Trade Agreements Act of 1979.
Article II of the . Constitution empowers the President, “by and with the advice and consent of the Senate, to make treaties, provided two thirds of Senators present concur.” . Const. Art. II, § 2, cl. 2. Pursuant to this authority, presidents have negotiated numerous international treaties and trade agreements, including the