What Does International Trade Law Entail?
At its core, international trade law governs the rules, regulations and agreements that authorizes, limits or otherwise controls the exchange of goods, services, and intellectual property on a transnational basis. Likewise, international trade law provides a framework of rights and obligations between participating nations and businesses engaged in international commerce. With many facets and global reach, international trade law has broad-ranging applicability. It influences both large and small companies, corporate and public institutions, governments and non-governmental organizations, enforcement agents and attorneys.
Passing through countless hands and across global markets, the importation and exportation of goods and services is vital to the world economy. Understanding how these transactions and interactions are regulated is necessary for companies engaged in global commerce and enforcement agents who target smuggling and wrongdoing across borders. International trade attorneys have an in-depth familiarity with the controversial, yet vital, rules that govern international trade practice, policy, and dispute resolution.
Typical matters handled by an international trade attorney include:
Documentary requirements
Customs advice
Permit requirements for import/export
DoD export control and licensing
Dual use commodities
Commercial invoice preparation
Foreign Military Sales (FMS) program
U . S. sanctions/barriers to trade
Trade and customs regulation
Systems and procedures
NAFTA
C-TPAT/Partner/Program audits
Duty drawback
Logistics planning
Customs valuation issues
Valuation/GSP
Asylum seekers
Visas
Alien assistance
Professional worker requirements
Non-immigrant workers
H-1B/H-2B/H-3
Social Security Tax Agreement
Export enforcement
Violations
ECR, Section 337
Exclusion Proceedings
Privacy violations
Antitrust and anti-competitive conduct
Merger and acquisition barriers
Market power, restraint of trade
Antitrust policy, monopolies
Antidumping laws
Safeguard actions
Counsel for target companies
Agency reviews
U.S. Canada FTA (NAFTA)
MAI, FIP, TRIM
State, local trade policy
Local economic development
Joint ventures
Government procurement policy
Conduct anti-dumping suits
Represent clients before federal agencies
Monopolies and merger tactics
Trade adjustment assistance
Joint ventures
Foreign licensing agreements
Technology transfer issues
Improve export potential
Understanding FTAA, FTA
International economic development
Trade financing
Export financing
Foreign receivables insurance
Letters of credit
Foreign currency hedging
Currency natural hedging
International Trade Law Career Skills
A successful career in international trade law demands a unique combination of skills. These professionals must be adept at multiple disciplines to provide the high-level services that multinational companies require. The following are some of the key skills you will need to flourish as an international trade law professional:
Negotiation Skills
Negotiation is crucial in international trade law, as trade deals and contracts often spanning multiple countries and legal jurisdictions. International trade lawyers must be able to identify when an issue requires strong negotiation skills, and when it’s best to recommend a more compromise-oriented approach. Closely related to negotiation is dispute resolution, where lawyers must mediate disputes between nations or between nations and the WTO.
Regulatory Knowledge
The world’s countries belong to various organizations and trade agreements that each operate according to their own rules and regulations. International trade lawyers must demonstrate the capability to navigate a constantly-shifting landscape of rules and regulations governing international trade.
Cultural Sensitivity
Each country operates under a unique set of laws, rules and customs that lawyers must respect. Domestic rules don’t apply in other nations, and lawyers should demonstrate the sensitivity to each nation’s unique qualities while still adhering to the highest ethical standards, such as the Sherman Antitrust Act and the Foreign Corrupt Practices Act.
Critical Thinking
Identifying problems, generating solutions and implementing them effectively are vital skills for international trade law professionals. In addition to the practical aspects of critical thinking, international trade lawyers must be able to strategically, rationally and ethically argue their cases. This involves developing the ability to view international trade issues from many different angles, including those of the companies involved, the nations involved and other countries that may have a vested interest.
Those interested in pursuing a career in international trade law should focus on the skills and competencies listed above in order to increase their chances of success.
International Trade Law Career Choices
International trade is a vast field with a variety of career paths. As economies today continue to become more globalized, so does the need for trade law professionals. An increasing number of companies and law firms are specializing in international trade, seeking out trade attorneys both domestically and abroad.
Law firms maintain large departments that focus on international trade, either working with companies or advising governments. These firms may specialize in one specific area of international trade law – a growing trend in a field that demands more specialization. Some examples of positions that exist within these trade departments include partner, senior counsel, counsel and associate. Some firms also hire experts in specific countries, known as Of Counsels, to provide specialized advice on customs rules of that country. Some large law firms also maintain large trade groups that focus on either import-export or export controls and economic sanctions.
People choose to work at public law firms for a variety of reasons. Some are primarily attracted to the field of international trade, whereas others have a general interest in law but are motivated by potential salary. Many are attracted by the relative job security offered by law firms, concerns about career growth at smaller firms, and the international nature of trade. One factor that compels many bright law students to work at a big law firm is the salary offered – usually around $160,000 per year for associates, compared to only around $50,000 for those in the public sector.
When law students consider what firms offer the best opportunities, they usually look at a firm’s size and global reach, the variety of legal services offered by its trade department and the availability of specialization. A firm’s reputation and its ability to recruit top talent is also an important factor.
Some law school graduates may choose to go directly into the expenditures departments of government agencies. At the federal level, the U.S. Trade Representative handles trade matters for the executive branch and advocates U.S. trade interests before other countries and international organizations. The U.S. Department of Commerce also has a trade group that helps businesses compete in international markets and deals with export controls and economic sanctions. The world of exports controls and sanctions is another field where an increasing number of law school graduates are finding positions in government agencies, multinational corporations, and law firms.
Law school graduates may also choose to go to work at multinational corporations. Larger companies likely have a full-time expert, or general counsel, who handles day-to-day legal questions and requirements. Alternatively, a full-time attorney may be hired specifically to handle trade issues on an ongoing basis.
Recently, other career paths that augment legal positions have emerged within companies. For example, import-export analysts work at a company level, liaising between the legal and business functions of a company and ensuring compliance with ever-increasing import-export regulations. In addition, import-export managers oversee import-export operations, including employees of the company, and work with both government regulators and supply chain members to ensure that import-export transactions are carried out without incident.
All of these positions provide additional opportunities for individuals pursuing a career in international trade law. With many areas of trade remaining relatively free from significant regulation, yet demanding constant advice from trained professionals, there are few signs that the growth may be over.
International Trade Law Educational Options and Certification
Pursuing a career in international trade law usually begins with a JD degree. As a fundamental degree for aspiring U.S. lawyers, a JD is often awarded to students after three years of legal study. Typically, a JD program requires applicants to have obtained a bachelor’s degree from an accredited institution and to have done well on the LSAT. In the U.S., there are around 205 accredited law schools that award a JD degree.
Some law schools also offer international trade tracks as part of their curriculum. These concentrations revolve around customs, export controls and trade sanctions. Other topics studied as part of these programs include importing, exporting, global business and international business transactions. Programs that offer an international trade track or field may also offer certificates for completing the coursework or completing a certain number of credits.
Students who want to focus on international trade law may choose to pursue an LLM in international and comparative law as their postgraduate degree. For example, Yale Law School offers an LLM in international and foreign law that allows students to concentrate their studies in international and induction law, including international trade law.
Notably, the U.S . does not require trade law authorities to be certified. Therefore, there is no specific certification body for trade law authorities in the U.S. However, prospective trade law professionals may benefit from pursuing credentials from relevant international organizations.
The World Trade Organization offers a range of resources for members and observers of the WTO. These resources also provide information about studying international law and careers accessible to people who want a career in trade law. Other international organizations with resources for trade law professionals include the United Nations Conference on Trade and Development, or UNCTAD, the United Nations Institute for Training and Research, or UNITAR, and the United Nations Development Programme, or UNDP.
Internships can play an important role in an international trade law career. Internships may enable prospective legal professionals to gain exposure to the field so they can hone their interests and learn from trade law professionals. Interns may work at law firms, corporate legal departments or relevant government agencies. Relevant government agencies may include the FCC, U.S. Customs and Border Protection, the U.S. Department of Commerce and the U.S. Department of Justice.
International Trade Law Career Challenges and Benefits
While careers in international trade law promise many long-term benefits, they also undoubtedly come with their own unique challenges. The global economy today is huge and usually unpredictable. Trade deals involving dozens of countries can come together or fall apart with the stroke of a pen while other issues involving trade may ‘warm’ into a state of political significance at any time. The resulting push-and-pull of perpetrating stability in the world’s offshore marketplace can be a stressful job on every level. Bumps in the road that eventually lead to a permanent break in your professional status are few and far between, but losses and setbacks are a regular occurrence among even the most experienced attorneys in the international trade community. Even in the most stable of market conditions, daily work in any realm of international law requires constant vigilance and close observation. If you seek thrills, certainly consider a career in this legal specialty.
There are also many less obvious signs of the instability that accompanies a trade law career. For example, your career path may not progress as quickly as you expect. Public interest in international trade varieties somewhat as other higher-education specialties grab the public’s attention from one year to the next, which creates a variable interest in pursuing legal work in this specialty. After several years of law school and apprenticeships, a new international trade attorney may find it difficult to land coveted jobs within a law firm or government agency that has an uncertain financial future. Depending on the level of job offers you receive, you may also need to accept a reduced salary, relative to the size of your debt, which can be frustrating for someone who has worked this hard to get this far.
On a more positive note, there are many opportunities for advancement (and even ownership) within the ranks of well-established firms. On the corporate side, there may also be chances for rapid promotion given the right skillset and the ability to travel. Above all, trade law jobs tend to be indexed to a global economic structure that rarely experiences protracted recessions. In fact, a solid legal specialty in international trade law is usually the equivalent of a golden ticket to long-term, recession-resistant employment and high pay. International trade law attorneys often ensure the continuation of commerce that has sustained the global economy for centuries.
Future Developments in International Trade Law Careers
The future trends in international trade law careers are as vast and varied as the world of international trade itself. Over the last several decades, the global landscape has been transformed by the forces of digital trade, Brexit, and a rise in protectionist policies across many nations. These developments not only complicate international commerce but open up a myriad of new opportunities for skilled legal professionals.
Digital trade is a prime example of how an emerging trend has created new areas of legal practice. As more business transactions take place online, the need for legal expertise in data privacy, cyber security, and cloud computing has never been greater. Lawyers with a background in intellectual property, information technology, or digital commerce are ideally suited to navigate the complex web of national and international regulations that govern these new frontiers.
Similarly, the United Kingdom’s decision to leave the European Union (Brexit) presents a whole new set of challenges—and opportunities—for lawyers specializing in international trade. As the UK begins to re-write its trade agreements and carve out new economic relationships with non-EU countries, there will be a demand for attorneys who can help multinational corporations adapt to the new legal framework . This could mean weeks spent negotiating the terms of a new free trade agreement (FTA), or months working on tariff schedules. Either way, this is fertile ground for those open to a challenge.
Furthermore, the growth of protectionism in many developed nations will also have an impact on the future of international trade law careers. As countries increasingly look inwards, regulatory issues become more complex and controversial. Anti-dumping measures, countervailing duties, and discriminatory trade practices are all areas where lawyers will be called on to provide their expertise to navigate potential pitfalls.
So, how do legal professionals gear up for these changes? First and foremost, it’s important to be adaptable and continually develop new skills. Given the dynamic and ever-evolving nature of international trade, a commitment to lifelong learning is essential. We will continue to see a pressing need for lawyers with language skills, cross-cultural communication skills, and an understanding of how global supply chains function. Those lawyers willing to adapt to the digital age by understanding information technology, digital privacy, and global compliance issues are highly sought after.