Subsidies under United States Countervailing Duty Law: The Case of Taiwan

The rapid industrialization of the Republic of China on the island of Taiwan during the past thirty years has been accompanied by the entry of goods made in Taiwan into markets around the world. Indeed, foreign trade has become the backbone of Taiwan\u27s economy and the impetus for its economic growth. Between 1976 and 1984, for example, year-to-year growth rates of imports ranged from 7.4% to 34.0%, while export growth ranged from 14.1% to 53.8%. In its ninth medium-term economic plan, the Council of Economic Planning and Development ( CEPD ) calls for Taiwan\u27s economy to grow by an annual average of 6.5% and exports of merchandise to increase by 8.2% annually from 1986 to 1989. The four-year plan projects merchandise exports of $40.3 billion and imports of$ 30.4 billion by 1989. This Article analyzes Taiwan\u27s government policies affecting production for export and their treatment under United States countervailing duty law. After describing the evolution of Taiwan\u27s trade policy and the present formulation of Taiwan\u27s law and regulation affecting production for export, the Article sets forth the applicable provisions of United States countervailing duty law. Discussion then focuses upon recent countervailing duty proceedings involving Taiwanese products, and concludes with the observation that the Taiwanese government subsidizes its exports minimally, if at all. This observation will refute the recurring argument that Taiwanese export subsidies have contributed to the United States-Taiwan trade deficit

Overview: U.S.-Korea and U.S.-Taiwan Trade Law Issues in Comparative Perspective

Since the mid-1950s, the economies of Korea and Taiwan have achieved remarkable results, with annual growth rates of ten percent not unusual in some years. During the past couple of decades, they have relied heavily on export trade, particularly with the United States, to maintain rapid growth rates and continued economic development. In 1988, for example, Korea and Taiwan enjoyed a combined trade surplus with the United States of $21.6 billion on total trade of$68.4 billion

Subsidies under United States Countervailing Duty Law: The Case of Taiwan

The rapid industrialization of the Republic of China on the island of Taiwan during the past thirty years has been accompanied by the entry of goods made in Taiwan into markets around the world. Indeed, foreign trade has become the backbone of Taiwan\u27s economy and the impetus for its economic growth. Between 1976 and 1984, for example, year-to-year growth rates of imports ranged from 7.4% to 34.0%, while export growth ranged from 14.1% to 53.8%. In its ninth medium-term economic plan, the Council of Economic Planning and Development ( CEPD ) calls for Taiwan\u27s economy to grow by an annual average of 6.5% and exports of merchandise to increase by 8.2% annually from 1986 to 1989. The four-year plan projects merchandise exports of $40.3 billion and imports of$ 30.4 billion by 1989. This Article analyzes Taiwan\u27s government policies affecting production for export and their treatment under United States countervailing duty law. After describing the evolution of Taiwan\u27s trade policy and the present formulation of Taiwan\u27s law and regulation affecting production for export, the Article sets forth the applicable provisions of United States countervailing duty law. Discussion then focuses upon recent countervailing duty proceedings involving Taiwanese products, and concludes with the observation that the Taiwanese government subsidizes its exports minimally, if at all. This observation will refute the recurring argument that Taiwanese export subsidies have contributed to the United States-Taiwan trade deficit

Assessing the Deterrent Effect of the Sarbanes-Oxley Act\u27s Certification Provisions

In the 1970s, Congress reacted to the financial wrongdoing of Lockheed Corp. and others by enacting § 102 of the Foreign Corrupt Practices Act (FCPA), which (1) requires corporations to keep records that accurately reflect financial transactions and (2) mandates a system of internal accounting controls. Going a step further in 2002, Congress responded to the Enron scandal by imposing personal accountability on chief executive officers in the Sarbanes-Oxley Act (SOA). After recounting responses prior to the existence of the Securities and Exchange Commission (SEC) to corporate abuses and the historical background of the SEC\u27s requirements for corporate financial reporting and disclosure, the Authors examine whether lessons can be drawn from the FCPA experience regarding the deterrent effect of the SOA\u27s corresponding provisions against fraudulent and unethical behavior

The Doha Declaration and Beyond: Giving a Voice to Non-Trade Concerns Within the WTO Trade Regime

The World Trade Organization (WTO) has been a significant force in the liberalization of trade across international borders since its inception in 1995. Commentators suggest that its reforms have converted the focus of international trade policy from removal of barriers to positive policy-making--a field historically occupied by domestic authorities. And although largely successful in the promotion of international trade, the Authors suggest that the binding provisions of the WTO ignore non-trade concerns such as environmental protection, consumer rights, labor rights, and state sovereignty. The Agreement\u27s inattention to these related concerns is the primary locus of criticism of the WTO, culminating in the breakdown of the 1999 Ministerial Meeting in Seattle, Washington. The Article examines the relationship between the Agreement and environmental, consumer protection, and labor policy, as well as the implications of WTO membership on state sovereignty. The Authors conclude that to improve the WTO\u27s treatment of non-trade concerns, the WTO must increase participation to include non-trade stakeholders, develop and support expertise within the WTO to address non-trade concerns, and follow the blueprint articulated in the Ministerial Declaration at the Fourth Ministerial Conference in Doha. The Declaration recognizes the importance of non-trade concerns and suggests a course of action that is likely to require the WTO to more squarely address the relationship between trade and non-trade policy

United States Antidumping Laws and Chinese Exports to the United States

Less than five months after the United States and China signed an agreement to promote and expand trade an antidumping petition was filed against China. This was one of the first times China had been a party to litigation in the United States since Normalization of relations in 1979. In the future the antidumping issue may be one of the most significant barriers to the development of United States-China trade relations. This article examines the general framework of United States antidumping laws, the key issues which have emerged in proceedings and the antidumping cases decided or pending. It also examines the effect of such proceedings on United States-China trade relations. The author believes that quotas will be the most frequently sought remedy in these cases. He suggests that the Chinese should research pricing and competitive trends in particular markets and gauge the impact that the introduction of Chinese goods will have on United States producers

Overview: U.S.-Korea and U.S.-Taiwan Trade Law Issues in Comparative Perspective

Since the mid-1950s, the economies of Korea and Taiwan have achieved remarkable results, with annual growth rates of ten percent not unusual in some years. During the past couple of decades, they have relied heavily on export trade, particularly with the United States, to maintain rapid growth rates and continued economic development. In 1988, for example, Korea and Taiwan enjoyed a combined trade surplus with the United States of $21.6 billion on total trade of$68.4 billion