GOVERNMENT INCREASES ANTI-DUMPING DUTIES TARGETING CHINA SINCE FY22
Why in the news?
Government tightens anti-dumping measures, levying duties on goods primarily from China, amid concerns over unfair trade practices.
About the Government’s Measures Against Dumping:
- Over one-third of anti-dumping duties levied targeted goods produced solely or by only two producers since FY22.
- Notable increase in anti-dumping duties imposed on goods originating solely from China or China and one other country.
- The Finance Ministry imposed anti-dumping duties in 16% of cases recommended by the Ministry of Commerce and Industry in FY24.
source:wordpress
About Anti Dumping Duty (Concept):
● Dumping occurs when goods are exported at a price lower than the home market. ● Anti-dumping duty rectifies trade distortions caused by dumping. ● Protects domestic industry from unfair competition, permitted by WTO. ● Differs from countervailing duties, which target subsidised goods. |