Consider the following statements about Anti Dumping duty 1 It is trad...........

Economic Affairs Foreign Trade - Trends and Policy

Consider the following statements about Anti Dumping duty

1. It is trade levy imposed by any government on imported products which have prices less thantheir fair normal values in their domestic market.

2. It is imposed under the multilateral World Trade Organisation (WTO) regime.

3. In India, anti-dumping duty is imposed by the Union Ministry of Commerce (i.e. byDirectorate General of Anti-dumping & Allied Duties.

Which of the statements given above is/are correct?

1 and 2 only

2 and 3 only

1 and 3 only

1, 2 and 3

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Explanation:

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. 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 Directorate General of Anti-dumping & Allied Duties (DGA(D)), while the Union Finance Ministry imposes it.