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LSDefine

Simple English definitions for legal terms

International trade

Read a random definition: Uniform Law Commissioners

A quick definition of International trade:

International trade refers to the exchange of goods and services between different countries. There are laws and regulations that govern international trade, including those set by the US Constitution, federal laws, and international treaties. The International Trade Administration (ITA) is a bureau of the US Department of Commerce that aims to promote fair trade and strengthen the competitiveness of US industry. The World Trade Organization (WTO) is an international organization that provides a framework for negotiating and resolving disputes related to international trade agreements.

A more thorough explanation:

International trade refers to the exchange of goods and services between different countries. It is governed by constitutional, federal, and international laws that regulate trade between the United States and foreign nations.

The Commerce Clause of the U.S. Constitution gives Congress the power to regulate commerce with foreign nations. Federal and international laws address a wide range of trade issues, such as customs duties, dumping, embargoes, free trade zones, intellectual property, quotas, and subsidies.

Congress has enacted numerous federal statutes, including the Tariff Act of 1930, the Trade Act of 1974, and the Trade Agreements Act of 1979. The President also has the power to negotiate international treaties and trade agreements, such as the Marrakesh Agreement Establishing the World Trade Organization and the North American Free Trade Agreement.

The International Trade Administration (ITA) is a bureau of the U.S. Department of Commerce that aims to strengthen the competitiveness of U.S. industry, promote trade and investment, and ensure fair trade through rigorous enforcement of U.S. trade laws and agreements. The ITA is comprised of four distinct business units: U.S. and Foreign Commercial Service, Manufacturing and Services, Market Access and Compliance, and Import Administration.

The United States is a member of the World Trade Organization (WTO), an international organization that provides a forum and a legal and institutional framework for its members to negotiate, implement, monitor, and resolve disputes relating to international trade agreements. As of 2021, the WTO has 164 members and 24 observer countries.

Examples of international trade include the import and export of goods such as cars, electronics, and clothing. International trade also includes the exchange of services such as consulting, tourism, and transportation. These examples illustrate how countries rely on each other for goods and services that they may not produce or provide themselves.

International Monetary Fund | internet service provider (ISP)

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ParallelAgreeableOrangutan
19:25
Hi llama!!
21:15
@ParallelAgreeableOrangutan: How are you!
ParallelAgreeableOrangutan
22:02
tbh kinda losing my mind, I'm visiting my parents in my childhood home and whenever I do this I remember why I never do this aahhaha
ParallelAgreeableOrangutan
22:02
My dog likes it here tho
ParallelAgreeableOrangutan
22:02
How are youuuuu?
22:26
@ParallelAgreeableOrangutan: Deep/tough. Feels. Im well working on a project so im happy :)
22:28
should i hit the dmt pen in the sauna and meet god
ParallelAgreeableOrangutan
22:31
Ooh what kind of project? Work, passion, neither, both?
ParallelAgreeableOrangutan
22:31
@NemoPropheta: do it do it
22:37
alright day before my lsat ill hit a blinker in the sauna and become one with the test
22:47
@ParallelAgreeableOrangutan: law school data so just passion.
22:47
@NemoPropheta: noo they drug test before the LSAT! U will get flagged!
ParallelAgreeableOrangutan
23:19
I'm intrigued llama
ParallelAgreeableOrangutan
23:21
Holdddddup all that number crunching on your lsd profile is your work? Damn
ParallelAgreeableOrangutan
23:21
I don't visit y'all's profiles enough, clearly
NarrowFaithfulCougar
0:22
@NemoPropheta: Ahh yeah, the Sauna. That's some good Nordic shit. Beats the hot tub hands down. Plus everyone is naked.
1:23
@ParallelAgreeableOrangutan: got that weaponized autism in gear, we out here.
@llama: your cycle confuses me, your stats are good and you applied early but all of those Rs? Is there anything weird about your app?
do you have C&F issues or something?
also ur first choice is kansas but you didnt apply there?
12:55
@RasheedWallaceFan: Hi. Yes, I waited for April LSAT, put almost all apps (which were sent really early) so that basically most of my apps were reviewed In May. Shot myself in the foot for 155 -> 161 lmao. Would not recommend 10/10
12:57
@RasheedWallaceFan: unironically, KSLS was my top choice, however by April LSAT their app had closed. It was like waiting to date ur dream partner, but waiting until you graduate uni, then by the time u graduate uni, your soul mate is already married with 2.4 kids and 1.6 dogs. Heartbreak.exe fr fr
12:58
are you R&Ring?
13:00
No, I think what I will do is flip a coin: heds NKU, tails NEL|B what u guys think bout dat. Then once 1L - if good at LS, try to transfer, if bad at LS or one of my grandiose ideas/inventions are viable, drop out and pursue.
oh so you submitted the apps with a lower lsat and then retook
got it
Bettercaulsaul
13:33
Most schools will hold your application for the next test score to be released into your account as well. I was notified by an admissions director that if a decision is processed they will not retroactively go back for the new score even if higher
ParallelAgreeableOrangutan
13:34
I vote NEL-Boston so we can be friends :D
ParallelAgreeableOrangutan
13:34
But it says you withdrew?? :(
ParallelAgreeableOrangutan
13:41
@Bettercaulsaul: in my experience, there is often an option on the application for you to choose whether you'd like them to review your application as-is ASAP or hold it until your new score is released. but it probably varies by school—I just remember seeing that option on at least a few app forms
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