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Sovereign InvestmentConcerns and Policy Reactions$
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Karl P. Sauvant, Lisa E. Sachs, and Wouter P.F. Schmit Jongbloed

Print publication date: 2012

Print ISBN-13: 9780199937929

Published to Oxford Scholarship Online: April 2015

DOI: 10.1093/acprof:osobl/9780199937929.001.0001

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PRINTED FROM OXFORD SCHOLARSHIP ONLINE (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2020. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 28 October 2020

The Evolution of the Essential Security Exception in U.S. Trade and Investment Agreements

The Evolution of the Essential Security Exception in U.S. Trade and Investment Agreements

Chapter:
(p.310) 12 The Evolution of the Essential Security Exception in U.S. Trade and Investment Agreements
Source:
Sovereign Investment
Author(s):

James Mendenhall

Publisher:
Oxford University Press
DOI:10.1093/acprof:osobl/9780199937929.003.0012

This chapter examines the evolution of the essential security exception in trade and investment agreements in the United States. It considers two notable trends: the latest generation of U.S. agreements now explicitly removes from the scope of review any actions that a party asserts fall within the scope of the exception; the international community, including the United States, is developing best practices to ensure that investment screening mechanisms such as the Committee on Foreign Investment in the United States (CFIUS) operate as tools to protect essential security rather than as a means of disguised protectionism. The chapter first provides an overview of the general U.S. policy on the relationship between international agreements and essential security before turning to a discussion of the General Agreement on Tariffs and Trade (GATT) and the World Trade Organization (WTO), along with U.S. treaties of friendship, commerce, and navigation. It then analyzes the negotiating experience of the North American Free Trade Agreement (NAFTA) and concludes by summarizing the current state-of-play of the essential security provisions in U.S. trade and investment agreements.

Keywords:   essential security, U.S. trade agreements, U.S. investment agreements, United States, Committee on Foreign Investment in the United States, international agreements, General Agreement on Tariffs and Trade, World Trade Organization, North American Free Trade Agreement

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