Once again the authors are pleased to offer this book as a comprehensive snapshot of the law of the World Trade Organization (WTO), the centerpiece of the multilateral trading system. We are pleased to add contributions by a new co-author, Michael Hahn of the University of Bern. We have endeavoured, as with previous editions, to incorporate in the analysis, the latest case law of the WTO Panels and the Appellate Body. We believe that the law of the WTO must be understood as a synthesis of the text of the WTO treaties and interpretations of the WTO dispute settlement bodies. For this new edition, we have not only updated all the chapters but have also reorganized the book somewhat. We hope this new edition will build on the success of the first two editions in providing an understanding of international trade law, not only to specialists— economists and lawyers—but also to laypersons interested in the field. Since the publication of the last edition, many events have occurred that affect international trade policies. The most important event, of course, was the Global Financial Crisis (GFC), which began in 2007 and is, at least in some respects, still ongoing. This crisis affected the entire world profoundly and international trade was no exception. International trade volumes plummeted as a result of the crisis and nations were less inclined to create new deals to foster increased trade. Food and natural resources shortages created a climate for export restrictions by many countries. Nevertheless, it is heartening that, thanks in large part to G-20 meetings, nations largely avoided repeating the mistakes of the 1930s, when they reacted to economic woes by constructing high import tariffs.