Dumping Current Affairs, GK & News
When goods are exported with prices far below the cost of production in the importing countries, it is called dumping. This ultimately cripples the manufacturers in the importing country .
CAROTAR is Customs (Administration of Rules of Origin under Trade Agreements) Rules, 2020. It came into force in September, 2020. These rules are set of guidelines that enforce the “rules of origin” for the rate on imports under Free Trade Agreements. What are CAROTAR rules? Under these rules, an importer is required to do due ..
Category: Economy & Banking Current Affairs
The US has initiated new antidumping duty and countervailing duty investigations to determine whether forged steel fittings from India and Korea are being dumped there and to find if producers in India are receiving unfair subsidies. In 2018, imports of forged steel fittings from India and Korea were valued at an estimated $92.6 million and ..
The Ministry of Finance has approved imposing of anti-dumping duty on import of electrical insulators (glass or ceramics/ porcelain) from China. What are electrical insulators? Electrical insulators are typically used in bushings, disconnectors, circuit breakers, transformers, power transmission and distribution lines, including railways. Anti-dumping Duty on Electrical Insulators from China The anti-dumping duty will be ..
The Ministry of Finance has imposed definitive anti-dumping duty on all imports of Purified Terephthalic Acid (PTA) from South Korea and Thailand. PTA is primary raw material in the manufacture of polyester chips, which in turn are used in a number of applications in textile, packaging, furnishings, consumer goods, resins and coatings. The latest action ..
China has launched a dispute resolution case against US and EU at the World Trade Organisation regarding the surrogate country approach followed by the US and EU to calculate anti-dumping measures against exports from China. When China joined the WTO in 2001, it accepted to allow WTO members to treat it as a non-market economy to calculate anti-dumping ..