On April 28, 2023, the Secretariats of the International Centre for Settlement of Investment Disputes (ICSID) and the United Nations Commission on International Trade Law (UNCITRAL) published the final draft of the Code of Conduct for Arbitrators in International Investment
Global Trade Policy Blog
The Global Trade Policy Blog, published by Steptoe LLP, covers developments in international trade law and policy, including antidumping and countervailing duty proceedings, trade remedies, tariff regulations, and investment treaties. It addresses regulatory changes such as the Department of Commerce's rules on particular market situations, updates on U.S. trade actions like Section 301 tariffs, and regional trade agreements including the African Continental Free Trade Area's investment protocol. The blog also explores the intersection of industrial policy and international investment agreements, focusing on performance requirements and their implications for foreign direct investment and trade relations.
Latest from Global Trade Policy Blog - Page 2
A Ray of Sunshine for Solar Energy Investors: High Court of Australia Rejects Spain’s Sovereign Immunity Plea Against Recognition and Enforcement of ICSID Arbitral Award
By Michael Lee
Introduction
On April 12, 2023, the High Court of Australia (High Court) rendered a unanimous judgment affirming that a foreign state was not immune from proceedings seeking recognition and enforcement of an International Centre for Settlement of Investment Disputes (ICSID)…
Coming to a Country Near You: The U.K. Announces Imminent Accession to the CPTPP – Including Its Investment Chapter
The United Kingdom’s (U.K.) accession to the Comprehensive and Progressive Agreement for Trans‑Pacific Partnership (CPTPP) might have been a bumpy ride, but it will soon come to fruition. While all eyes are on the trade implications of the CPTPP, another…
EU Court recognizes transnational subsidies are countervailable
On 1 March 2023, the EU’s General Court delivered its judgment in Case T‑540/20, Jushi Egypt for Fiberglass Industry v Commission, ruling that the EU’s anti-subsidy Regulation does not preclude the countervailing of subsidies that are granted by a foreign…
The CPTPP Enters into Force for Chile – but Mind the Fine Print
On February 21, 2023, the Comprehensive and Progressive Agreement for Trans‑Pacific Partnership (CPTPP) formally entered into force for Chile, after undergoing an intense, four-year legislative process. The CPTPP covers the full range of modern trade agreements, including market access for…
The Window for Putting a USMCA State Party on Notice of a NAFTA Legacy Investment Claim Closes at the End of March
Canadian, Mexican and United States investors considering bringing a claim under the North American Free Trade Agreement (NAFTA) against a NAFTA State Party should be aware that the three-year window for notifying their claim will soon come to an end. …
The EU’s Foreign Subsidies Regulation Gets Adopted
On 14 December 2022, the Council of the EU (“Council”) and the European Parliament (“Parliament”) adopted Regulation (EU) 2022/2560 of the European Parliament and of the Council on foreign subsidies distorting the internal market (the “Foreign Subsidies Regulation” or “FSR”),…
The Department of Commerce Seeks Comment on Its “Particular Market Situation” Practice
By Eric Emerson, Katy Shin & Michael
On November 18, 2022, the Department of Commerce (“the Department”) published a notice of advanced proposed rulemaking seeking public comments with respect to its methodology in determining the existence of a particular market situation (“PMS”) that distorts the cost of…
U.S. Commerce Department Concludes Russia Is a Non-Market Economy for Antidumping Proceedings
By Eric Emerson
Last week, the U.S. Department of Commerce (“DOC”) concluded that the Russian Federation will be considered a non-market economy (“NME”) for future antidumping duty (“AD”) proceedings. This decision reversed the DOC’s 2002 conclusion that Russia was a market economy country,…
Measures Banning Products Made with Forced Labor: US, EU and UK Approach
The United States, the European Union, and the United Kingdom are increasingly using trade policy tools as a means to promote certain sustainability goals related to human rights and the environment. For instance, Steptoe covered in a previous post the…