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The current set of anti-dumping laws in India is defined by Section 9A and 9B of Customs and Tariffs Act, 1975 (Amended 1995) and The Anti-dumping rules such as (Identification, Assessment and Collection of Anti-dumping Duty on Dumped Articles and for Determination of Injury) Rules of 1995, Section 9A of customs and tariffs Act 1975 [22] states ...
During his chairmanship, he led the enactment three key trade measures, namely Republic Act No. 8751 or the Countervailing Duty Act, Republic Act No. 8752 or the Anti-Dumping Duty Act, and Republic Act No. 8800 or the Safeguard Measures Act.
It was set up by the Ministry of Commerce and Industry under the Agriculture and Processed Food products Export Development Authority. The Act was passed by Parliament in December 1985. It was formed and came into effect from 13th February 1986 by the notification issued in the Gazette of India.
Similarly, the establishment of minimum import prices should be strictly observed by the exporting firms in contracts with the importers of the country that has set such prices. In the case of reduction of export prices below the minimum level, the importing country imposes anti-dumping duty, which could lead to withdrawal from the market.
According to the theory of comparative advantage, trade barriers are detrimental to the world economy and decrease overall economic efficiency. Most trade barriers work on the same principle: the imposition of some sort of cost (money, time, bureaucracy, quota) on trade that raises the price or availability of the traded products .
China has hinted at possible tit-for-tat action against trade barriers imposed by the United States last week, as relations between the two economic superpowers become increasingly fraught.
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]
Countervailing duties (CVDs), also known as anti-subsidy duties, are trade import duties imposed under World Trade Organization (WTO). [1] They are applied following an investigation that determines a foreign country's subsidies on exports have harmed domestic producers in the importing country.