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Comment on Fritz Breuss "WTO Dispute Settlement: An Economic Analysis of Four EU--US Mini Trade Wars"

Author

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  • Ichiro Araki

Abstract

In his excellent empirical analysis of the WTO dispute settlement process, Fritz Breuss has amply demonstrated the undesirability of trade retaliation by applying the CGE model to the transatlantic "mini trade wars" in the Hormones, Bananas, Foreign Sales Corporations and Steel Safeguards cases. The author's conclusion that tariffs are very bad instruments for countermeasures is uncontested. However, the practicability of a mechanism of direct transfers as proposed by the author may be questionable. The comments also discuss the purpose of retaliation (countermeasures) in the WTO dispute settlement system and summarize Japan's experience with the WTO dispute settlement mechanism.

Suggested Citation

  • Ichiro Araki, 2004. "Comment on Fritz Breuss "WTO Dispute Settlement: An Economic Analysis of Four EU--US Mini Trade Wars"," Journal of Industry, Competition and Trade, Springer, vol. 4(4), pages 345-364, December.
    • Handle: RePEc:kap:jincot:v:4:y:2004:i:4:p:345-364
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    References listed on IDEAS

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    1. Anderson, Kym, 2002. "Peculiarities of retaliation in WTO dispute settlement," World Trade Review, Cambridge University Press, vol. 1(2), pages 123-134, July.
    2. Robert Z. Lawrence, 2003. "Crimes and Punishments?: Retaliation under the WTO," Peterson Institute Press: All Books, Peterson Institute for International Economics, number 372, January.
    3. Schwartz, Warren F & Sykes, Alan O, 2002. "The Economic Structure of Renegotiation and Dispute Resolution in the World Trade Organization," The Journal of Legal Studies, University of Chicago Press, vol. 31(1), pages 179-204, January.
    4. Yuji Iwasawa, 2002. "WTO Dispute Settlement as Judicial Supervision," Journal of International Economic Law, Oxford University Press, vol. 5(2), pages 287-305, July.
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    Cited by:

    1. Mai, Nhat Chi, 2016. "Beyond trade: the impact of WTO transparency norms on socialist-oriented countries with an emphasis on Vietnam's legal reform," OSF Preprints bgzhv, Center for Open Science.

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