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Consider the following statements regarding Anti-dumping duty.
  1. Anti-dumping measures are taken to ensure fair trade for domestic industries.
  2. Anti-dumping duty is meant for level playing field between domestic producers of a product and foreign producers of the same product who can afford to sell it at a lower price because of the subsidy they receive from their government.
Which of the above statements is/are incorrect?
  • a)
    1 only
  • b)
    2 only
  • c)
    Both 1 and 2
  • d)
    Neither 1 nor 2
Correct answer is option 'B'. Can you explain this answer?
Most Upvoted Answer
Consider the following statements regarding Anti-dumping duty. Anti-du...
  • Anti-dumping duty is different from countervailing duty. The countervailing duty is imposed in order to counter the negative impact of import subsidies to protect domestic producers.
  • Countervailing Duties (CVDs) are tariffs levied on imported goods to offset subsidies made to producers of these goods in the exporting country.
  • CVDs are meant to level the playing field between domestic producers of a product and foreign producers of the same product who can afford to sell it at a lower price because of the subsidy they receive from their government.
  • Anti-dumping duty is a customs duty on imports providing a protection against the dumping of goods at prices substantially lower than the normal value whereas Countervailing duty is a customs duty on goods that have received government subsidies in the originating or exporting country.
  • Anti-dumping measures are taken to ensure fair trade and provide a level playing field to the domestic industry. 
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Consider the following statements regarding Anti-dumping duty. Anti-dumping measures are taken to ensure fair trade for domestic industries. Anti-dumping duty is meant for level playing field between domestic producers of a product and foreign producers of the same product who can afford to sell it at a lower price because of the subsidy they receive from their government.Which of the above statements is/are incorrect?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'B'. Can you explain this answer?
Question Description
Consider the following statements regarding Anti-dumping duty. Anti-dumping measures are taken to ensure fair trade for domestic industries. Anti-dumping duty is meant for level playing field between domestic producers of a product and foreign producers of the same product who can afford to sell it at a lower price because of the subsidy they receive from their government.Which of the above statements is/are incorrect?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'B'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Consider the following statements regarding Anti-dumping duty. Anti-dumping measures are taken to ensure fair trade for domestic industries. Anti-dumping duty is meant for level playing field between domestic producers of a product and foreign producers of the same product who can afford to sell it at a lower price because of the subsidy they receive from their government.Which of the above statements is/are incorrect?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statements regarding Anti-dumping duty. Anti-dumping measures are taken to ensure fair trade for domestic industries. Anti-dumping duty is meant for level playing field between domestic producers of a product and foreign producers of the same product who can afford to sell it at a lower price because of the subsidy they receive from their government.Which of the above statements is/are incorrect?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'B'. Can you explain this answer?.
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