The Reclamation of Dispute Settlement Mechanism in WTO for Sustainability of International Trade (Trade Law vs. Security Law)

Abstract

The ideology of Bretton Woods for multilateral trading system buried in the USA during the reigns of Trump. He has not only reversed the 80 years’ trade rules of the USA but poses a potential threat to Multilateral trade and endangered the WTO mechanism of dispute resolution by delaying the nominations forits Appellate forum. The present study focuses both on the potential crises in international trade and American invocation of excessive tariffs and Anti-Dumping duties in the form of National Security Measures contrary to the provisions of the GATT Agreement. The Security Measures taken by the Trump administration were extraordinary in nature and violated many procedural rules of WTO Trade covenants necessary to be followed before the determination and imposition of counter-bailing and Anti-Dumping duties. The Trump'sunilateral approach eroded away the leading role of the USA for accelerating the global trade once it played,which resultantly paved the way for China to take place instead of the USA in international arena to revisit and frame new trade rules for Nations. The article also addresses through empirical analysis that WTO dispute settlement body seems reluctant to take any bold decision against developed economies.