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Dumping, in economics, is a form of predatory pricing, especially in the context of international trade.It occurs when manufacturers export a product to another country at a price below the normal price with an injuring effect.
Under zeroing, the United States sets at zero the negative differences (that is whenever FDP minus USIP is less than zero). Critics of this methodology charge that, because negative amounts are excluded, zeroing results in the calculation of a margin and an antidumping duty in excess of the actual dumping practiced by the countries concerned.
The economists Harry Dexter White (left) and John Maynard Keynes (right) at the Bretton Woods Conference in New Hampshire [27]. The WTO precursor, General Agreement on Tariffs and Trade (GATT), was established by a multilateral treaty of 23 countries in 1947 after the end of World War II, in the wake of other new multilateral institutions dedicated to international economic cooperation—such ...
In all three categories, the WTO said Australia's investigating authority, the Anti-Dumping Commission (ADC), had acted inconsistently with some articles of the anti-dumping agreement.
The European Commission claimed that since 2000, US companies had received $1 billion in anti-dumping fees redistributed to them under the Byrd Amendment. In 2002, the WTO ruled the Byrd Amendment wholly illegal.
The Kennedy Round officially opened on May 4, 1964, at the Palais des Nations.It was the last GATT round to have tariff reduction as its primary focus. [8] However, it was the first GATT round to deal with non-tariff issues, such as dumping, a practice whereby a company exports a product at a price lower than the price it charges in its home market. [9]
It remained in effect until 1 January 1995, when the World Trade Organization (WTO) was established after agreement by 123 nations in Marrakesh on 15 April 1994, as part of the Uruguay Round Agreements. The WTO is the successor to the GATT, and the original GATT text (GATT 1947) is still in effect under the WTO framework, subject to the ...
The WTO said South Korea has taken issue with the U.S. Department of Commerce's use of zeroing, a controversial method for calculating anti-dumping duties that has been the subject of other WTO cases against the U.S. Zeroing is a way of calculating anti-dumping duties that does not provide offsets for instances of "negative dumping" — that is ...