The WTO is one of the most important intergovernmental organizations in the world, yet the way in which it functions as an organization and the scope of its authority and power are still poorly understood. This comprehensively updated new edition of the acclaimed book by an outstanding team of WTO law specialists, provides a complete overview of the law and practice of the WTO. The authors explain the origins and development, via the GATT, of all of the substantive legal areas covered by the WTO, as well as the sources of law and remedies of the Dispute Settlement system. This book will be of interest to all scholars, students and practitioners seeking to understand this pivotal yet controversial international organization and world trade in general.