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Consider the following statements regarding Anti-Dumping Duty.
1. Countries carry out anti-dumping probes to determine whether their domestic industries have been hurt because of a surge in cheap imports.
2. Countries impose Anti-Dumping duties outside the regime of the World Trade Organization (WTO).
3. In India, Directorate General of Trade Remedies (DGTR), under the Ministry of Commerce & Industry conducts anti-dumping investigations.
Which of the above statements is/are correct?
- a)1 only
- b)1, 2
- c)1, 3
- d)1, 2, 3
Correct answer is option 'C'. Can you explain this answer?
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Verified Answer
Consider the following statements regarding Anti-Dumping Duty.1. Count...
Countries carry out anti-dumping probes to determine whether their domestic industries have been hurt because of a surge in cheap imports.
As a counter measure, they impose duties under the multilateral regime of the World Trade Organization (WTO).
Dumping is a process wherein a company exports a product at a price that is significantly lower than the price it normally charges in its home (or its domestic) market.
Directorate General of Trade Remedies (DGTR) conducts anti-dumping investigations, under the Customs Tariff Act, 1975 and the rules made thereunder, on the basis of a duly substantiated application filed by the domestic industry alleging dumping of goods into the country causing injury to the domestic industry. The basic intent of anti-dumping measures is to eliminate injury caused to the domestic industry by the unfair trade practice of dumping and to create a level playing field for the domestic industry.
Most Upvoted Answer
Consider the following statements regarding Anti-Dumping Duty.1. Count...
And Industry, is responsible for conducting anti-dumping investigations and recommending anti-dumping duties.
All of the statements are correct.
1. Countries do conduct anti-dumping probes to assess if their domestic industries have been affected by an influx of low-cost imports. These investigations help determine if anti-dumping duties need to be imposed to protect the domestic industry from unfair trade practices.
2. While the World Trade Organization (WTO) sets guidelines and regulations regarding anti-dumping measures, individual countries have the authority to impose anti-dumping duties as per their domestic laws and regulations. These duties are often imposed outside the purview of the WTO, but they must still comply with the general principles established by the organization.
3. In India, the Directorate General of Trade Remedies (DGTR) is the designated authority responsible for conducting anti-dumping investigations and recommending anti-dumping duties. It operates under the Ministry of Commerce and Industry and plays a crucial role in safeguarding the interests of the domestic industry against unfair trade practices.
All of the statements are correct.
1. Countries do conduct anti-dumping probes to assess if their domestic industries have been affected by an influx of low-cost imports. These investigations help determine if anti-dumping duties need to be imposed to protect the domestic industry from unfair trade practices.
2. While the World Trade Organization (WTO) sets guidelines and regulations regarding anti-dumping measures, individual countries have the authority to impose anti-dumping duties as per their domestic laws and regulations. These duties are often imposed outside the purview of the WTO, but they must still comply with the general principles established by the organization.
3. In India, the Directorate General of Trade Remedies (DGTR) is the designated authority responsible for conducting anti-dumping investigations and recommending anti-dumping duties. It operates under the Ministry of Commerce and Industry and plays a crucial role in safeguarding the interests of the domestic industry against unfair trade practices.
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Consider the following statements regarding Anti-Dumping Duty.1. Countries carry out anti-dumping probes to determine whether their domestic industries have been hurt because of a surge in cheap imports.2. Countries impose Anti-Dumping duties outside the regime of the World Trade Organization (WTO).3. In India, Directorate General of Trade Remedies (DGTR), under the Ministry of Commerce & Industry conducts anti-dumping investigations.Which of the above statements is/are correct?a)1 onlyb)1, 2c)1, 3d)1, 2, 3Correct answer is option 'C'. Can you explain this answer?
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Consider the following statements regarding Anti-Dumping Duty.1. Countries carry out anti-dumping probes to determine whether their domestic industries have been hurt because of a surge in cheap imports.2. Countries impose Anti-Dumping duties outside the regime of the World Trade Organization (WTO).3. In India, Directorate General of Trade Remedies (DGTR), under the Ministry of Commerce & Industry conducts anti-dumping investigations.Which of the above statements is/are correct?a)1 onlyb)1, 2c)1, 3d)1, 2, 3Correct answer is option 'C'. Can you explain this answer? for Current Affairs 2024 is part of Current Affairs preparation. The Question and answers have been prepared according to the Current Affairs exam syllabus. Information about Consider the following statements regarding Anti-Dumping Duty.1. Countries carry out anti-dumping probes to determine whether their domestic industries have been hurt because of a surge in cheap imports.2. Countries impose Anti-Dumping duties outside the regime of the World Trade Organization (WTO).3. In India, Directorate General of Trade Remedies (DGTR), under the Ministry of Commerce & Industry conducts anti-dumping investigations.Which of the above statements is/are correct?a)1 onlyb)1, 2c)1, 3d)1, 2, 3Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for Current Affairs 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statements regarding Anti-Dumping Duty.1. Countries carry out anti-dumping probes to determine whether their domestic industries have been hurt because of a surge in cheap imports.2. Countries impose Anti-Dumping duties outside the regime of the World Trade Organization (WTO).3. In India, Directorate General of Trade Remedies (DGTR), under the Ministry of Commerce & Industry conducts anti-dumping investigations.Which of the above statements is/are correct?a)1 onlyb)1, 2c)1, 3d)1, 2, 3Correct answer is option 'C'. Can you explain this answer?.
Consider the following statements regarding Anti-Dumping Duty.1. Countries carry out anti-dumping probes to determine whether their domestic industries have been hurt because of a surge in cheap imports.2. Countries impose Anti-Dumping duties outside the regime of the World Trade Organization (WTO).3. In India, Directorate General of Trade Remedies (DGTR), under the Ministry of Commerce & Industry conducts anti-dumping investigations.Which of the above statements is/are correct?a)1 onlyb)1, 2c)1, 3d)1, 2, 3Correct answer is option 'C'. Can you explain this answer? for Current Affairs 2024 is part of Current Affairs preparation. The Question and answers have been prepared according to the Current Affairs exam syllabus. Information about Consider the following statements regarding Anti-Dumping Duty.1. Countries carry out anti-dumping probes to determine whether their domestic industries have been hurt because of a surge in cheap imports.2. Countries impose Anti-Dumping duties outside the regime of the World Trade Organization (WTO).3. In India, Directorate General of Trade Remedies (DGTR), under the Ministry of Commerce & Industry conducts anti-dumping investigations.Which of the above statements is/are correct?a)1 onlyb)1, 2c)1, 3d)1, 2, 3Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for Current Affairs 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statements regarding Anti-Dumping Duty.1. Countries carry out anti-dumping probes to determine whether their domestic industries have been hurt because of a surge in cheap imports.2. Countries impose Anti-Dumping duties outside the regime of the World Trade Organization (WTO).3. In India, Directorate General of Trade Remedies (DGTR), under the Ministry of Commerce & Industry conducts anti-dumping investigations.Which of the above statements is/are correct?a)1 onlyb)1, 2c)1, 3d)1, 2, 3Correct answer is option 'C'. Can you explain this answer?.
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