TRADE IN GOODS

ABSTRACT

As international trade became more sophisticated, the ‘traditional' trade in goods topics seemed to be entering an extinction phase and be substituted by other forms of trade regulation, such as technical barriers or sanitary measures. However, in recent years and for different reasons, many of them reclaimed their relevance. This chapter also discusses an essential tool for the operation of trade in goods, which is tariff classification, as well as an often overlooked but fundamental issue in trade in goods regulation, which are the rules of origin. Global value chain operations could not be conceived without rules of origin. Finally, the COVID 19 pandemic revealed how vulnerable international trade could be to import and export restrictions, such as quotas or licences, and how important trade facilitation could be to bolster trade and even to save lives. © Oxford University Press 2022. All rights reserved.