Multiple Choice Questions on Consider the following statements with respective to Anti Dumping Duty In the long term anti dumping........... for UPSC Civil Services Examination (General Studies) Preparation

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Multiple Choice Questions

Consider the following statements with respective to Anti Dumping Duty In the long term anti dumping...........

Economic Affairs Tax System
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    Consider the following statements with respective to Anti-Dumping Duty

    1. In the long-term, anti-dumping duties can reduce the international competition of domestic companies producing similar goods.
    2. The use of anti-dumping measures as an instrument of fair competition is permitted by the World Trade Organisation.

    Select the correct statement.

    1 only

    Incorrect Answer

    2 only

    Incorrect Answer

    Both

    Correct Answer

    None

    Incorrect Answer
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    Explanation:

    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.
    • WTO's Provisions Related to Anti-Dumping Duty are
    • 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.

    Hence both statements are correct.

    By: Shubham Tiwari
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