This course covers the law and institutions governing the global trading system, including that of the World Trade Organization (WTO) and regional trading arrangements (e.g., the European Union and NAFTA). The WTO incorporates a dispute settlement system, including the Appellate Body, the jurisprudence of which is followed by other trading regimes. The laws and institutions of the United States that are relevant to international trade are addressed, including constitutional aspects, import and export rules, and rules providing border protection for intellectual property. For the past several decades, the United States has actively negotiated bilateral and regional trading arrangements to promote US interests, and current negotiating efforts (e.g., the TransPacific Partnership) are discussed. A substantial part of new trading arrangements address protection of investment, including in many cases investor-to-state dispute settlement (ISDS). The course covers investment rules, including ISDS, as a feature of trading arrangements. International trade policy and rules affect a range of other subject matters, including the environment, innovation, public health, labor and human rights.