Interantional Business Essay Example | Topics and Well Written Essays - 500 words

Interantional Business - Essay ExampleThe panel should act objectively while conforming to the WTO agreements in finding a solution that would resolve the dispute (August 2004).Procedure The facts in this case arose from the military personnel Trade Organization (WTO), Dispute Settlement Panel, in which several countries that included Canada, the European Union, and the United States alleges that lacquer imposed lower taxes on shochu (locally produced alcoholic beverage) than other imported alcoholic beverage, like vodka in assault of Article III, paragraph 2, of the 1994 General Agreement on Tariffs and Trade (August, 2004). The case reached this point based on the report by the panel claiming that the GATT Article III.2 is inconsistent with the Japanese Liquor Tax. The GATT Article III.2 indicates that a product imported should be subject directly or indirectly to intrinsic taxes or other internal charges in excess of those applied, like domestic products (August, 2004).Issue (s) The legal issues surrounding this case begins with the recognition of the Article III.2 where it states, so as to afford protection as depicted in Article III.1 (August, 2004).