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In 1776, Adam Smith admonished the world that "[t]he most effectual expedient ... for raising the value of ... surplus pro[]duce, for encouraging its increase... would be to allow the most perfect freedom to the trade of all such mercantile nations."2 Since that time, international trade has reached immense proportions as nations increasingly depend on formal and reliable free trade regimes.' By virtue of its huge import market and strong export industries, the United States remains at the center of global trade.4 With the ever increasing complexity and prevalence of international trade, binding trade agreements such as the General Agreement on Tariffs and Trade (GATr)5 and the North American Free Trade Agreement (NAFTA) 6 will play a vital role in the

GATT and NAFTA: Marrying Effective Dispute Settlement and the Sovereignty of the Fifty States