neurontin usa What is in news : Recently, the government has decided not to impose Anti-Dumping Duty (ADD) on imports of certain copper products, from China, Thailand, Korea and three other countries.
- What is Dumping – Dumping is said to occur when the goods are exported by a country to another country at a price lower than the price it normally charges in its own home market. This is an unfair trade practice which can have a distortive effect on international trade.
- Anti-Dumping Duty – Imposition of Anti-dumping duty is a measure to rectify the situation arising out of the dumping of goods and its trade distortive effect, permitted by the World Trade Organisation.
- What does WTO say-
- Validity: An anti-dumping duty is valid for a period of five years from the date of imposition unless revoked earlier.
- Sunset Review: It can be extended for a further period of five years through a sunset or expiry review investigation.
- Who decides in India –
Directorate General of Trade Remedies
- It is the apex national authority under the Ministry of Commerce and Industry for administering all trade remedial measures including anti-dumping, countervailing duties and safeguard measures.
- It provides trade defence support to the domestic industry and exporters in dealing with increasing instances of trade remedy investigations instituted against them by other countries.