Jurisdiction(s):
United Kingdom

Key definition

Goods definition

What does Goods mean? In legal practice, goods are tangible, movable items that are bought, sold, supplied or hired under commercial or consumer contracts. Across the UK and Ireland, legislation defines the term: the Sale of Goods Act 1979 (England & Wales and Scotland), the Sale of Goods Act (Northern Ireland) 1979, and in Ireland the Sale of Goods Act 1893 as amended by the 1980 Act. Broadly, goods comprise all personal chattels (in Scotland, all corporeal moveables) other than money and things in action. The statutory definition includes emblements and industrial growing crops, and items attached to or forming part of land...

TRIMs Agreement: goods-only scope, local content and quantitative restrictions, clarification of GATT 1994 National Treatment (Article III) and Article XI, exceptions for developing countries, and transparency obligations

Published by a LexisNexis International Trade expert

Practice notes

Introduction to the Agreement on Trade-related Investment Measures

The Agreement on Trade-related Investment Measures (the TRIMs Agreement) addresses investment rules that bear upon trade in goods. Early proposals to embed disciplines on foreign investment were contained in the Havana Charter, which aimed to create the International Trade Organisation in 1948. As that Charter was never ratified, no comparable clause emerged under the General Agreement on Tariffs and Trade (GATT) 1947. During the Uruguay Round, while the World Trade Organisation (WTO) Agreements were being negotiated, a GATT Panel reviewed how investment conditions interact with trade in goods. In the case at hand, Canada obliged overseas investors to undertake to buy specified Canadian products (local content obligations) and to export a set proportion of their output. These undertakings were imposed as prerequisites for approving the foreigners’ investments. The Panel decided that mandating purchases of certain Canadian products was inconsistent with the National Treatment obligation of GATT 1947. It did not find that the export performance commitment contravened any GATT 1947 provision. This outcome prompted negotiations during the Uruguay Round on the TRIMs Agreement. However, because there was considerable disagreement among Member States...

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Web page updated on 27/05/2026

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