Anti-dumping duty Current Affairs - 2019
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The Union Government has extended anti-dumping duty on import of certain Chinese products, used in garment, toys and footwear manufacturing, for another five years i.e. till 2021.
Decision in this regard was taken by Central Board of Excise and Customs (CBEC) based on recommendations of the Directorate General of Anti-Dumping and Allied Duties (DGAD).
This extension will protect domestic industry from the harm caused by dumping (import) of the cheap Chinese products.
- The DGAD made the case for continuation of the anti-dumping duty on Chinese products after its second sunset review of the anti-dumping duty in force on the imports.
- Earlier in October 2010, the Revenue Department of the Unio Finance Ministry had extended the levy (anti-dumping duty) till October 2015.
What is Anti-Dumping Duty?
- Anti-Dumping Duty is a trade levy imposed by any government on imported products which have prices less than their fair normal values in their domestic market.
- Thus, it is protectionist tariff that seeks to stop dumping process where company exports a product at a price lower than price it normally charged in domestic market of importing countries’.
- Anti-Dumping Duty is imposed under the multilateral World Trade Organisation (WTO) regime and varies from product to product and from country to country.
- In India, anti-dumping duty is recommended by the Union Ministry of Commerce (i.e. by DGAD), while the Union Finance Ministry imposes it.
Tags: Anti-dumping duty • Economy • India-China • National • Trade
United States International Trade Commission (USITC) has decided to initiate anti-dumping investigations into a certain category of tyres imported from India and Sri Lanka.
Decision in this regard was taken after USITC commissioners after they found that certain category of tyres imported from both countries is damaging domestic industry.
They have alleged that imports of certain new pneumatic off-the-road tyres are sold at less than fair value in US and are subsidised by the governments of India and Sri Lanka.
This is for the first time that anti-dumping investigations from US have launched probe into tyres coming from India, while Chinese tyres already have faced a similar probe in the past.
What is Anti-Dumping Duty?
- It is duty imposed by government on imported products which have prices less than their normal values or domestic price.
- Anti-Dumping Duty is imposed by a counter as a trade barrier under the multilateral WTO regime and varies from product to product and from country to country.
- Usually countries initiate anti-dumping probes to check if domestic industry has been hurt because of a surge in below-cost imports.