| Annotation |
The importance of the article is to analyze the effects of anti-dumping, a trade policy that has emerged as the most serious impediment to international trade. Over the past 25 years countries have increasingly turned to anti-dumping in order to offer protection to import competing industries. Anti-dumping is a trade policy where the institutional process surrounding the investigation and determinations has significant impacts beyond the anti-dumping duty we observe, and where the filing decision, the legal determination, and the protective impact are all endogenous with firms’ decisions in the market, leading to a wealth of potential strategic actions and distorted market outcomes. Anti-dumping suits, along with safeguards and countervailing measures, are tools for protecting domestic industries from surges of cheap foreign imports. The author stresses that although the WTO strives to eliminate all trade barriers, it recognizes that nations require flexibility to adjust to economic shocks as multilateral agreements increasingly liberalize trade. Thus, these measures allow nations to temporarily protect their economies against fluctuations in trading patterns. Although antidumping, safeguards, and countervailing measures share an often uneasy relationship with the WTO’s core principles, many member nations consider them essential to fostering fair and free trade. |
| Keywords |
trade policy, import-competing industries, anti-dumping, domestic industries, foreign imports, WTO, countervailing measures, free trade. |
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