Dumping
The World Trade Organization Agreement on dumping defines it broadly as a company exporting a product at a price lower than the price it normally charges on its home market for a “like” product. When goods are imported at a price below the domestic producer’s price, cries of “unfair competition” and “dumping” are often heard. Pressure is exerted among the countries government to do something to protect their market against the imported products. The government may impose duties to the imported product under three WTO agreements. The Anti-dumping Agreement and The Agreement on Subsidies and Countervailing Measures take action against those importers who are importing at unfair import prices. The third agreement, The Safeguard Agreement, takes action when the import price is fair but the imports are seriously damaging domestic production. Domestic companies can request safeguard action if the market share of imports would otherwise substantially increase. This usually involves the obligation of quantitative restrictions on imports, though these cannot be targeted at a specific country. Anti-dumping provisions, on the other hand, allow nations to retaliate against specific trading partners who are exporting goods a
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Approximate Word count = 879
Approximate Pages = 4 (250 words per page double spaced)
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