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

Ichiro Araki ()

Journal of Industry, Competition and Trade, 2004, vol. 4, issue 4, 345-364

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.

Date: 2004
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