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 World Trade Organization (WTO), Dispute Settlement Panel, in which some(prenominal) countries that included Canada, the European Union, and the United States alleges that Japan imposed lower taxes on shochu (locally produced alcoholic beverage) than other imported alcoholic beverage, like vodka in violation of word 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 Nipponese Liquor Tax. The GATT Article III.2 indicates that a product imported should be subject directly or indirectly to internal taxes or other internal charges in excess of those applied, like domestic products (August, 2004).Issue(s) The le gal 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).