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Project Report on Tariff and Non Tariff Final

Project Report on Tariff and Non Tariff Final

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Published by Komal Khatter

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Published by: Komal Khatter on Jun 10, 2012
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10/11/2013

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Project report on Tariff andNon-Tariff Barriers in Trade
Submitted to:-Mrs Anju BatraSubmitted by:-Komal(047)Pushkar Dhawan(048)Ekansh Saxena(066)
 
Delhi Institute of Advanced Studies, Delhi
 
 
Acknowledgement
We would like to express our gratitude to all those who gave us the possibility tocomplete this report. We want to thank the DIAS faculty, for giving us theopportunity to commence this report in the first instance. We have furthermore tothank Mrs Anju Batra for her continuous guidance and support. She has encouragedus to go ahead.Komal(047)Pushkar Dhawan(048)Ekansh Saxena(066)
 
 
Barriers
 
High Customs Duty
 The high import duties in many countries have been reduced under the former
GATT
(GeneralAgreement on Tariffs and Trade) multilateral agreements. The
GATT
was formed in Geneva,Switzerland, in 1947 and it was succeeded by the
WTO
(World Trade Organization) on January1, 1995. The organization, through multilateral agreements, helps reduce trade barriers betweenthe signatory countries and promotes trade through tariff concessions.
WTO
has wide power toRegulate international competition.
Countervailing DutyCountervailing duty
is a duty imposed in addition to the regular (general) import duty, in orderto counteract or offset the subsidy and bounty paid to foreign export-manufacturers by theirgovernment as an incentive to export, that would reduce the cost of goods. Imposing acountervailing duty is the answer to unfair competition from subsidized foreign goods.
Anti-dumping Duty
 
Anti-dumping duty
is a duty imposed to offset the advantage gained by the foreign exporterswhen they sell their goods to an importing country at a price far lower than their domestic sellingprice or below cost. Dumping usually occurs from the oversupply of goods, which is often a resultof overproduction, and from disposing of obsolete goods to other markets.

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