INTERNATIONAL TRADE LAW: AN OVERVIEW
From: http://www.law.cornell.edu/wex/international_trade 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. The Commerce Clause of the U.S. Constitution empowers Congress to “regulate commerce with foreign nations,” U.S. 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 c...