Basing our research on Tariffs as being one of the most significant tax commodity we shall be able to analyze the different ways they impact the world trade (Bernhofen et. al 36). Tariffs in most cases limit or restrict imports through raising the prices of services and goods bought from overseas or other states, and thus this makes them less competitive on the domestic market. As mentioned earlier, governments from different countries can impose tariffs to increase revenues for protection of local industries from foreign competition. It is achieved through increases the prices of foreign-produced goods and thus prompting the consumers of that particular country to value or buy products from their domestic industries.
International law has no central authority and operation as an anarchic highly decentralized legal order. Nevertheless, the absence of an authoritarian figure to enforce penalties does not mean that international law should not be considered “real” law. Law is still applied, but practiced and enforced in different ways. Overall, international law is considered “real” law because system of rules, established by binding agreements, that aim to regulate the actions of its members, but with different characteristics practiced in the domestic arena, where there is legislative, judiciary, executive, and police
It is mainly used in other fields of public international law, like international investment law for instance, where it is also referred to as the electa una via principle. According to this principle, potential claimants have a choice between domestic and international courts or tribunals. A selection of one tribunal automatically excludes the possibility of recourse of the same claim to any other competent court or tribunal. The implication appears to be that if one court has assumed jurisdiction over a given case the other court, irrespective of what the outcome of that case is, will exercise self-restraint and will never preside over the same case. Basically, borrowing from the maxim of theological hermeneutics, the court that is first to assume jurisdiction is the ‘Alpha and Omega’the first and final adjudicator.
For example, international trade can be regulated effectively because it is a yes or no matter, it excludes the more controversial aspects such as customs and tradition. International law struggles to enforce laws based on morality and human rights, primarily because of their diverse interpretations across cultures (Theiler, 2014). Improvements in international law are occurring regularly in hopes of eventually becoming as effective, if not more effective than domestic law. International law can be costly, imposing sanctions can be very expensive and rewards are also costly and unpopular among states. The concept of “Reversible rewards” has been groundbreaking for the international system.
TRUE SENSE OF INTERNATIONAL LAW: The controversy whether international law is a law or not resolves on the divergent definitions of the word “law” given by the jurist. If we subscribe to the view of Hobbes, Austin and Pufendorf, that law is a command of sovereign enforced by a superior political authority then international law cannot be included in the category of law. On the other hand if, we subscribe to the view that the term“law”cannot be limited to rules enacted by superior political authority, then international law can be included in the category of law. Lawrence aptly remarked that everything depends upon the definition of law which we choose to adopt. International law is not law in the true sense of the term- Hobbes and Austin subscribe to the view that law properly so called is a command of the sovereign and it is enforced by a superior authority.
There are many contending views on this world politic concept but in its simplest form, an International Political System is a set of state or non-state actors and the framework of their relationships in the international level[ Stolberg, A. (2008). The International System in the 21st Century. Carlisle, United States of America: Strategic Studies Institute of the US Army War College.]. But in order to better comprehend its nature, it should be described in the lens of seeing its two variables separately; that of ‘international’ and ‘political system’.
In addition, advancement of technology, growth in economy, higher living standards likely widen the gap between the rich and the poor and lose the balance in society. Nevertheless, these disadvantages do not outweigh the achievements human obtain through economic globalization. It is well-demonstrated that any nation which does not follow the nature of this process will confront with a lot of political issues, particularly North Korea and Iraq. Due to resistance to foreign influences, two countries have to unilaterally fight with the inner chaos, and watch carefully outer
Every country implements some barriers for trade. The main reason is that there is a big competition by foreign firms. The politicians create a policy which could protect companies in home country from that competition. There are several methods of restricting trade: Quotas: It is a limit of quantity of goods that can be imported. Quotas restrict supply and it increase domestic price of goods.
Thus, when bringing a claim in international plane, the UN performs greater or lesser բլա–բլա. Importance: The possession of an international legal personality is important to be able to conclude agreements, to claim responsibilities from other subjects of IO, to possess international rights and duties, to have autonomy (functional) A strict definition of an international legal personality of an international organization is not of utmost importance. What we learn from the Reparations AO is that it depends on the functions (means) given to it by its members for the purposes (ends) of a certain IO to determine its international legal personality. – The Court: the UN is obliged to protect its agents who perform their functions which are functions of UN at the same time (Upon examination of the character of the functions entrusted to the Organization and of the nature of the missions of its agents, it becomes clear that the capacity of the Organization to exercise a measure of functional protection of its agents arises by necessary intendment out of the Charter). “Functional necessity” (Blokker).
The clear impact of trade barriers is to keep occupations from being lost to foreign competition, which is a contention utilized by numerous particular vested parties to legitimize different sorts of trade barriers. Over the long haul, nonetheless, trade barriers power customers to pay higher costs, since items that could generally be made affordably abroad take more assets to deliver locally. Expanded Costs to Domestic Suppliers: Price climbs because of trade barriers don 't simply influence purchasers. It additionally puts a strain on firms which supply raw products and wares to domestic industries. Without trade barriers set up, such firms can depend on the law of comparative advantage, implying that it would cost them more to attempt to discover a certain raw material in their own particular nation than it would to purchase from a nation rich in a specific commodity.