Identify and describe two significant U.S laws in international trade Essay

Identify and describe two significant U.S laws in international trade for the period of 2000-2008 - Essay Example This agreement immediately removes tariffs on more than eighty percent (80%) of U.S. exports comprising of products, which are consumer and industrial, the rest being phased out in 10 years (USTR, CAFTA-DR Final Text, 1). The Office of the United States Trade Representative also says that the DR-CAFTA would provide the same reciprocal access for the products and services of the US, just like most of the imports that enter the United States which are duty free, under the so-called â€Å"Generalized System of Preferences, Caribbean Basin Initiative and Most Favored Nation programs† (USTR, CAFTA-DR Final Text, 1). Hence, the goal of this agreement is to maintain a healthy competition and to create â€Å"a more efficient marketplace across international borders† (US Trade Representative, CAFTA Facts: Meeting the Needs of the Region’s Rural Poor, 1). This agreement is also provided with funding initiatives in order to enhance rural development and build trade capacity (USTR, CAFTA Facts: Financial Support for CAFTA-DR, 1). Thus, countries under this agreement was said to receive billions of dollars from various agencies in the next few years ((USTR, CAFTA Facts: Financial Support for CAFTA-DR, 1). Aside from this, the agreement contains the international labor rights with the capability to trade, providing thereby the procedures in case a party fails in its obligations under the labor provisions (Human Rights Watch, 1). However, according to Brandie Ballard Wade, although the provision of the DR-CAFTA provides that â€Å"members are committed to meet their obligations under the ILO declaration and ensure that both the rights of workers and the internationally recognized labor principles are protected and established in its laws,† there is however no requirement that they have to meet these obligations (645). Instead, the agreement only requires that countries strive to ensure that international principles and rights â€Å"are acknowledged and protected by