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Introduction The concept of ―dumping‖ in international trade has a long history. Dumping, less than one name or another has been part of the rhetoric of political economy for a long time. Jacob Viner, the first scholar to pull together previous writings on the subject of dumping, noted a sixteenth‐century English writer who charged foreigners with selling paper at a loss to smother the infant paper industry in England. Viner also noted an instance in the seventeenth century in which the Dutch were accused of selling at low prices in the Baltic regions in order to drive out French merchants. He further noted statements made by Alexander Hamilton in debates in the USA in 1791 warning about foreign country practices of underselling competitors in other countries so as to ―…frustrate the first efforts to introduce a business into another by temporary sacrifices, recompensed, perhaps by extraordinary indemnifications of the government of such country…‖ Hamilton further declared that the greatest obstacle encountered by new industries in a young country was the system of export bounties, which foreign countries maintained in order to ―enable their own workmen to undersell and supplant all competitors in countries to which these commodities are sent.‖

Definition:In economics, "dumping" is a kind of predatory pricing, especially in the context of international trade. It occurs when manufacturers export a product to another country at a price either below the price charged in its home market, or in quantities that cannot be explained through normal market competition.

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The definition of dumping according to GATT is: The sale of products for export at a price less than the normal value where normal value means roughly the price for which those same products are sold on the home or exporting market. The concept of dumping seems fair because it is recognized that producers may sell their goods in different markets at different prices and that prices of a goods are influenced by several market forces and may vary at different times. It may be a perfectly legitimized business activity like discounts offered by airlines to students or senior citizens etc. There may not seem anything intrinsically unethical or illegal about dumping.

Meaning:Dumping is an international price discrimination in which an exporter firm sells a portion of its output in a foreign market at a very low price and remaining output at a high price in the home market. Haberler defines dumping as: ―The sale of goods abroad at a price which is lower than the selling price of the same goods at the same time in the same circumstances at home, taking account of differences in transport costs.‖ Viner’s definition is simple. According to him, ―Dumping is price discrimination between two markets in which the monopolist sells a portion of his produced product at a low price and the remaining part at a high price in the domestic market,‖ Besides, Viner explains two other types dumping. One, reverse dumping in which foreign price is higher than the domestic price. This is done to turn out foreign competitors from the domestic market. When the product is sold at a price lower that cost of production in the domestic market, it is called reverse dumping. Two, when there is no consumption of the commodity in the domestic market and it is sold in two different foreign markets, out of which one market is charged a high price and the other market a low

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price. But in practice, dumping means selling of a product at high price in the domestic market and a high price in the foreign market.

Overview:A standard technical definition of dumping is the act of charging a lower price for a good in a foreign market than one charge for the same good in a domestic market. This is often referred to as selling at less than "fair value". Under the World Trade Organization (WTO) Agreement, dumping is condemned (but is not prohibited) if it causes or threatens to cause material injury to a domestic industry in the importing country. The term has a negative connotation, as advocates of competitive markets see "dumping" as a form of protectionism. Furthermore, advocates for workers and laborers believe that safeguarding businesses against predatory practices, such as dumping, help alleviate some of the harsher consequences of such practices between economies at different stages of development. The Bolkestein directive, for example, was accused in Europe of being a form of "social dumping," as it favored competition between workers, as exemplified by the Polish Plumber stereotype. While there are very few examples of a national scale dumping that succeeded in producing a national-level monopoly, there are several examples of dumping that produced a monopoly in regional markets for certain industries. Ron Chenow points to the example of regional oil monopolies in Titan: The Life of John D. Rockefeller, Sr. where Rockefeller receives a message from Colonel Thompson outlining an approved strategy where oil in one market, Cincinnati, would be sold at or below cost to drive competition's profits down and force them to exit the market.

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Objectives of Dumping:1. To enter into a foreign market dumping may be resorted to make an entry in a foreign market with subsidies being provided by the government

2. To dispose of occasional surplus at a lower price in foreign markets

3. To develop a market in foreign countries by selling at a lower price in the initial stages just as new markets van be developed in the country itself by selling at lower prices.

4. A monopolist also resorts to dumping for the expansion of his industry. When he expands it, he receives both internal and external economies which lead to the application of the law of increasing returns. Consequently, the cost of production of his commodity is reduced and by selling more quantity of his commodity at a lower price in the foreign market, he earns larger profit

5. The monopolist practices dumping in order to develop new trade relations abroad. For this, he sells his commodity at a low price n the new market, thereby establishing new market relations with those countries. As a result, the monopolist increases his production, lowers his costs and earns more profit.

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Effects of dumping:On the importing country

1. Domestic industry might be affected adversely by a decline in sales and profits.

2. If dumping is continued for a longer period, survival of the domestic industry may be threatened.

3. Dumping may create balance of payments problems for the country subjected dumping.

On the Exporting Country 1. It must be presumed that a producer who dumps benefits from doing so, although in the case of promotional and predatory dumping, there is an element of risk in that the ultimate benefits, on which the loss‐making export sales are premised, may not materialize.

2. Provided its home market is shielded against arbitrage or retaliation, and consequent price drop (which would neutralize the discrimination), dumping can have clear advantages for the individual exporter.

3. A profitable home market provides a platform which may be used to operate in export markets at prices much lower than could have been possible without market segregation.

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Generally a country will have to give the exporting businesses a huge subsidy to enable them to sell the export below cost. It often uses dumping as an attack on the other country's industry. in the hopes of putting that country's producers out of business. Advantages of Dumping:The main advantage of dumping is being able to sell at unfairly competitive lower price. The country is willing to take a loss on the product to increase its comparable advantage in that industry. an advantage which benefits both export and home sales. a strategy which permits production and employment to be maintained in a recession or enables the dumper to obtain considerable advantages when going for economies of scale. 6. The low export prices generate further sales which in turn lower the cost of production. Disadvantage of Dumping:- PTO . 5. Dumping can still have beneficial effects on the dumper even in situations where home market sales are made at a loss. and dominating that industry. It may do this because it wants to create jobs for its residents.6 4. export sales can be priced as low as variable cost. As long as the dumper covers fixed costs.

This can lead to trade restrictions and tariffs. Meanwhile. such as the World Trade Organization (WTO) or the European Union (EU). For international price discrimination to take place.  Persistent Dumping: Continuous tendency of a domestic monopolist to maximize total profits by selling the commodity at a higher price in the domestic market than internationally (to meet the competition of foreign rivals). conditions must be met: o o Domestic and foreign markets must be separated. Types of dumping:-  Sporadic Dumping: Occasional sale of a commodity at below cost in order to unload an unforeseen and temporary surplus of the commodity without having to reduce domestic prices. after which prices are raised to take advantage of the monopoly power abroad. The second disadvantage is retaliation by the trade partner. It can take years for dumping to work. the cost of subsidies can add to the export country's sovereign debt. Demand elasticity of the product must be different in two markets. The good can be sold with a lower price where the demand elasticity is high.  Predatory Dumping: Temporary sale of a commodity at below cost or a lower price abroad in order to derive foreign producers out of business. and with a higher price where demand elasticity is low.7 The main disadvantage of dumping is that it's very expensive to maintain. The third is censure by international trade organizations. PTO .

8 Historical Dumping Country wise Dumping by Germany:- There is general agreement that before 1914. However. Since 1914. export dumping by German industries and especially by the iron and steel trade began in the nineteenth century. It is obvious that systematic and continued dumping is not likely to arise if the dumping concern must share the higher domestic prices with the competitors and must bear by itself the cost of the export dumping. without the loss of individuality of the separate concerns. long before the establishment of cartels. export dumping was more widespread and more systematically practiced in Germany than any other country. they made it possible for many of the cartels to adopt as a definite price policy the maintenance of domestic prices at the foreign level plus the full amount of the German import duties and the sale for exports at best prices obtainable. Some writers have gone so far as finding ―a manifestation of a deep laid conspiracy PTO . The cartel method in Germany provided the machinery whereby. the benefits and burdens of export dumping could be equitably distributed among the domestic producers. These two factors monitored price competition in the domestic market. Cartels monitored price competition from outside Germany and the combinations monitored the German producers themselves. writers have always made the charge hostile to Germany and all her works that much of the German dumping was actuated by predatory motives. The effects of the protective tariff were such that foreign competitors were prevented from sharing in the high domestic prices resulting from the price fixing activities of the cartels. even if these should be substantially below domestic prices. In concert. The resort to export dumping by Germany seems to have been facilitated by the high tariffs and by the complete organization of large scale industry into cartels or industrial selling and buying combinations.

In other countries.‖ Dumping in the United States of America:Since the late eighties of the nineteenth century. which is conclusive in this respect. a Committee of the Democratic Party seeking campaign material succeeded in obtaining from a foreign subscriber a copy of the discount sheet of an American journal. What followed was a buildup of evidence of the prevalence of dumping. published in 1890. The abundance of evidence is more significant and convincing because American exporters who resorted to dumping generally endeavored to conceal their export prices from the general public. In 1902. There is according to Viner.9 between the German government and industry to destroy the competing industries of foreign countries. A New York Tariff Reform pamphlet. immeasurable evidence available both in official and nonofficial sources. been developed and maintained on the basis of sale at dumping prices. and which further demonstrates beyond doubt that a substantial fraction of the American export trade in manufactured commodities had.25 In the USA. presented many instances of dumping. before 1914. Export price lists and quotations were carefully kept out of domestic circulation. export dumping on a continued and systematic scale has been a common practice of American manufacturers. even the smallest concerns participated in exportation at reduced prices through their membership in cartels or producer’s combinations and through the use of export bounties. the systematic and continued practice of dumping appears to have been largely either confined to the dominant concerns (trusts) of the staple industries or to manufacturers of specialties. PTO . and especially Germany. which contained the lowest export prices.

It provides relief to the domestic industry against the injury caused by dumping. The Anti-Dumping Agreement clarifies and expands Article VI. Anti dumping is a measure to rectify the situation arising out of the dumping of goods and its trade distortive effect. The use of anti dumping measure as an instrument of fair competition is permitted by the WTO. There are many different ways of calculating whether a particular product is being dumped heavily or only lightly. anti dumping is an instrument for ensuring fair trade and is not a measure of protection per se for the domestic industry. the purpose of anti dumping duty is to rectify the trade distortive effect of dumping and re-establish fair trade. They allow countries to act in a way that would normally break the GATT principles of binding a tariff and not discriminating between trading partners—typically anti-dumping action means charging extra import duty on the particular product from the particular exporting country in order to bring its price closer to the ―normal value‖ or to remove the injury to domestic industry in the importing country.10 Antidumping and Its purpose on International trade (For Reference): Dumping is said to occur when the goods are exported by a country to another country at a price lower than its normal value. While permitted by the WTO. In fact. Thus. It provides three methods to calculate a product’s ―normal value‖. This is an unfair trade practice which can have a distortive effect on international trade. The agreement narrows down the range of possible options. General Agreement on Tariffs and Trade (GATT) (Article VI) allows countries the option of taking action against dumping. The main one is based on PTO . and the two operate together.

Then investigation to the foreign producer is conducted to determine if the allegation is valid. When this cannot be used. According to Article VI of GATT. and the conditions for ensuring that all interested parties are given an opportunity to present evidence. dumping investigations shall. other expenses and normal profit margins and the agreement also specifies how a fair comparison can be made between the export price and what would be a normal price. the price charged by the exporter in another country. an anti-dumping investigation usually develops along the following steps: domestic producers make a request to the relevant authority to initiate an anti-dumping investigation. It uses questionnaires completed by the interested parties to compare the foreign producer's (or producers') export price to the normal value (the price in the exporter’s domestic market. how the investigations are to be conducted. it comes to a conclusion that the foreign producer is dumping its products.11 the price in the exporter’s domestic market. other expenses and normal profit margins). Procedures in investigation and litigation:Detailed procedures are set out on how anti-dumping cases are to be initiated. or a calculation based on the combination of the exporter’s production costs. except in special PTO . Anti-dumping measures must expire five years after the date of imposition. Generally speaking. If the foreign producer's export price is lower than the normal price and the investigating body proves a causal link between the alleged dumping and the injury suffered by the domestic industry. unless a review shows that ending the measure would lead to injury. or a calculation based on the combination of the exporter’s production costs. two alternatives are available—the price charged by the exporter in another country.

each supplying less than 3% of the imports. Anti-dumping measures must expire five years after the date of imposition. or insignificantly small (defined as less than 2% of the export price of the product). unless a review shows that ending the measure would lead to injury. They must also report on all investigations twice a year. members are encouraged to consult each other. The agreement says member countries must inform the Committee on Anti-Dumping Practices about all preliminary and final anti-dumping actions. When differences arise. Other conditions are also set. promptly and in detail. Measures of Antidumping:- Dumping must be distinguished from simple practices of low-price sales resulting from lower costs or greater productivity. together account for 7% or more of total imports). in fact. be concluded within one year and in no case more than 18 months after initiation.e..12 circumstances. Anti-dumping investigations are to end immediately in cases where the authorities determine that the margin of dumping is. The key criterion in this respect is not. For example. the relationship between the price of the exported product and that on the market of the country of import. A product is therefore considered to be dumped if its export price to the European Union (EU) is less than PTO . but the relationship between the price of the exported product and its normal value. They can also use the WTO’s dispute settlement procedure. the investigations also have to end if the volume of dumped imports is negligible (i. de minimis. if the volume from one country is less than 3% of total imports of that product—although investigations can proceed if several countries.

However. It may therefore be constructed on the basis of the price at which the imported products are first resold to an independent buyer. In cases where there is no export price or where the price is set under an association or a compensatory arrangement between the exporter and the importer or a third party. on any other reasonable basis. In the case of imports from non-market economy countries. if the products are not resold to an independent buyer. the normal value may be established on the basis of prices of other sellers or producers. by independent customers in the exporting country. or the price from this country to other countries. The second basis of comparison. in the ordinary course of trade. or where those are not possible. sales by a company with a monopoly) or where because of the particular market situation such sales do not permit a proper comparison. the normal value may be calculated on the basis of the cost of production in the country of origin. the relationship with the normal value in the country of origin which determines the dumping margin. In addition. any reference to the export price becomes impossible. when there are no or insufficient sales of the like product in the ordinary course of trade (for example. where the exporter in the exporting country does not produce or does not sell a like product. This is the price actually paid or payable for the product when sold for export to the EU. or are not resold in the condition in which PTO . the normal value is determined on the basis of the price or constructed value in a market economy third country. is the export price. or. The normal value to be taken into account to determine if there is dumping is usually based on the prices paid or payable.13 the comparable price for a like product established in the ordinary course of trade within the exporting country.

Even in the case of new initiations of investigations. South Korea (5) and Brazil. However.14 they were imported. "Products exported from China remained the most frequent subject of new measures accounting for 22 of the 57 new measures reported for the first half of 2007 compared with 15 new measures on products from China during the corresponding period of 2006. India reported with the maximum number with 13. China is far below India in terms of imposing final measures with five cases. In these cases. followed by New Zealand (6). EU reported six such cases and the US three. Anti-dumping measures are resorted to by a nation when it finds that an country is dumping its goods at a price that is much less than a fair price and could be injurious to the domestic industry. on any reasonable basis. which is exactly the double of eight new measures it reported during the corresponding period in 2006. adjustments are made to take account of all costs incurred between importation and resale as well as for profits accruing. the WTO report said. the total number of new initiations declined for all these countries. China and Japan (4 each). Among the 150 WTO members. India tops the chart of applications of final anti-dumping measures with 16 cases. PTO . India tops list of Final anti-dumping measures: WTO India initiated the largest number of fresh anti-dumping investigations and final measures while there has been a sharp drop worldwide in the number of new probes during January and June 2007. In the developed world. a WTO report has said." the report said.

Products in the textiles sector are in second place. and Thailand each were subjected to three new measures during the first half of 2007. 13 WTO members reported initiating 49 new investigations. China three and the US one.Of the 12 new measures on products in the chemicals sector.15 India. A total of 16 members applied 57 new final anti-dumping measures during the first half of current calendar yeast compared to 71 new measures reported by 15 members a year ago PTO . compared with 92 initiations in the corresponding period of 2006. with 11 new measures. India applied eight. The base metals sector was in third place. Korea. Reflecting a drop in the anti-dumping measures. Indonesia. products in the chemicals sector are the most frequent subject of fresh measures accounting for 12 of the 57. with nine new measures . Sector-wise.

the researcher plans to bring to light the two sides of dumping and answer the following question: 1. all the legal loopholes and economic issues that this landmark case has raised in the Anti-dumping agreement under GATT and how does it affect the Indian producers shall be questioned and answered. Chapter I: An economic analysis on dumping: Why do firms dump products? What are the benefits of dumping? 2. Chapter II: A legal perspective on anti-dumping: Why are Anti-dumping laws enacted and what is the reasoning behind the legislations of the WTO/GATT to curb predatory pricing and dumping? 3. Here. Chapter III: The concluding chapter shall deal with the EC Bed Linen Case: A case of antidumping filed by the EU against India.16 Case Study. Questionnaires and Answers Through this project. PTO .

Consumers in the importing country benefit as they have to pay lower prices for whatever they purchase of the commodity dumped. The agreement specifies that price discrimination is an unfair trade practice if it causes injury to domestic industry. 4. it itself is an unfair trade practice that blocks fair competition. economists argue that without showing predatory intent. However. It finds market for its surplus production 2. price discrimination cannot be held to be an unfair trade practice. it is able to strengthen its balance of payments position 3. The losers are the consumers in the exporting country. It occurs when an exporter needs to price below marginal cost in order to maximize sales and PTO . 5. Since there is no such pre-requisite of anti-dumping use. Dumping benefits the consumers in the importing country who can buy the products at cheaper rates. Benefits of dumping on the exporting country:1.17 Chapter I An economic analysis on dumping: Why do firms dump products? What are the benefits of dumping? Answer: The rhetoric of anti-dumping is that it disciplines unfair trade practices. Dumping may also be caused by what is known as transitional dumping. By exporting more.

the role of anti-dumping measures has changed from ensuring fair competition to protecting inefficient competitors. when the average export and product prices of a product are calculated. Originally designed as a weapon against predatory and powerful companies. Thus this arbitrariness in the calculation of dumping makes anti-dumping an unfair mechanism that randomly levies duties on innocent producers or exempts the real dumping producers. Confronted with such situations developing countries like China are formulating their own anti-dumping legislations. due to non- PTO . This is a discrepancy in the calculation of dumping. whilst in true cases of dumping. thus artificially raising the level of domestic price. and thus even in cases where there is no dumping. In this case below cost-pricing is a kind of investment in the marketing of the product to reap profits in the long run. 7. it may be treated as predatory pricing. They are being increasingly used against efficient producers. Because this may require fixing price below marginal cost. 6. domestic sales prices below total cost are considered beyond the ordinary course of trade and therefore excluded.18 expand market share. especially from developing countries. a producer might be exempted from the anti-dumping measures. The bias in the definition of dumping favors the party imposing anti-dumping duties. Dumping is considered to exist if the export price of a product is less than the comparable price of the product or like-product in the domestic market in the ordinary course of trade. it will be considered as dumping and anti-dumping measures will be unfairly levied on the producer. according to the strict definition of dumping as per the GATT Anti-dumping agreement. Yet. while all export prices are included. However. clearly it is not.

in order to minimize losses on fixed investment. When a product enters a foreign market the exporting firm may have to sell below total cost of production to attract consumers or to meet the existing competition without any intention to dominate the market. a firm has incentives to continue production in the short run. especially if the product does not enjoy the same established reputation as similar products in the market. when neither home country nor a third country price is available. PTO . As items such as administrative costs and profits vary greatly among countries and companies. selling and general costs plus profit. Also. the arbitrary choice of a third country may easily lead to the definition of dumping. a constructed value is used which is the sum of material and labor costs of production plus administrative. The duration of these short periods may vary from firm to firm. Furthermore. Sometimes. and not necessarily dumping. in the hope that the market situation will improve later to bring it back to profit. According to the theory of micro-economics. Since different countries have varying levels of economic development and comparative advantages in different sectors. if no home market price can be found. so long as the price is above average variable cost of production. It is unreasonable to subject such business practices which are normal within many countries to anti-dumping charges when foreign companies are involved. it is not difficult to see the inherent subjectivity of the approach. selling below total cost is a normal business practice.19 uniformity in the application of the anti-dumping rule. the sales price in a third country surrogate country can be used for comparisons.

But foreign producers are not the only victims. The consequent imposition of anti-dumping duties tends to penalize the most efficient foreign producers. The application or abuse of lax anti-dumping rules penalizes foreign producers who enjoy comparative advantages. In a world with increasingly globalizing tendencies and production.20 According to the Uruguay Round of anti-dumping code. Yet too often in reality either due to the complexities of the issues involved or to protectionist considerations. to the benefit of inefficient domestic producers. anti-dumping authorities determine dumping without carefully considering whether the difficulties of domestic producers resulted from their own efficiency or inefficiency or from the allegedly dumped products. The importers and industrial users of the product in the country imposing the anti-dumping duties may become less competitive PTO . The problems associated with anti-dumping rules are also related to the rules of origin. the same product can be considered to have different origins by different countries. It also increases uncertainty in international trade. a product may be the result of production in many countries. an importing country can only apply for anti-dumping duties when it is demonstrated that the dumped imports have indeed caused injury to domestic industries. As there is no substantive multilaterally agreed rules of origin. Therefore even if dumping has been correctly determined it may be difficult to find who the party at fault is. thus acting as a deterrent against potential foreign competitors.

21 due to higher prices caused by such measures. For developing or transitional economies undertaking economic reforms. Even if some anti-dumping legislation requires consideration of the views of these groups. the theory of political economy tells us that it is unlikely for these diverse groups to be as vociferous as the concentrated producers of an industry in lobbying activities. The abuse of anti-dumping rules hits the developing countries harder whose exports are increasingly subject to such measures in recent years. Consumers have to pay more for similar products. anti-dumping duties on exports already priced by market forces only serve to hinder their painful process towards a full market economy and to create cynicism about the western preaching of free trade. If the export of their competitive products is obstructed by anti-dumping measures. the country can take measures to protect domestic producers in accordance with WTO agreement on safeguards. Anti-dumping measures are not an PTO . If an importing country finds that a trade partner subsidizes its exports. the expenses that their exports have to pay for dealing with anti-dumping cases increases. it can invoke multilaterally agreed countervailing measures designed for this purpose. As anti-dumping rules vary for different countries. If due to some unforeseen developments an industry of an importing country is seriously injured with a flood of imports. their complaints may not be adequately represented. Furthermore. as they lack financial resources and experienced personnel on antidumping law. the developing countries enjoy comparative advantage in only a few sectors. Due to their less diversified economies. their foreign exchange earnings and even economic development may be negatively affected.

because they do not tackle the problem at its source. They maintain that unless the anti-dumping laws seek to check predatory pricing the application of the laws is welfare reducing. A number of economists argue for scrapping the anti-dumping agreement altogether. Many countries have recommended that investigating authorities must consider public interest before imposing anti-dumping duties. However. It is not fair that the consumers be asked to pay the price for no commitment on the part of the domestic producers even in the future to be able to take care of their interests. It is a much wider term which covers in its ambit the general social welfare taking into account the larger interest of various stake holders. By seeking to protect domestic producers who cannot face foreign competition the consumers are put to a loss. The current anti-dumping agreement imposes no substantive obligations on the authorities to take the broader public interest into account. He therefore PTO . the benefits to consumers outweigh the losses to domestic producers. He finds it difficult to either dispose it off in the domestic market or to hold it for the next season for various reasons.22 effective cure for difficult market access in another country either. Sporadic dumping is when the producer intends to dispose of the casual overstock of the producers. Sales in the specified period may not be as good as expected and the producer finds himself with surplus stock. it must be noted that public interest is not consumer interest alone. They argue that domestic consumers benefit from low prices and if the import market is perfectly competitive.

a firm is dumping if it sells its products abroad below fair market value i. antidumping laws are wrongly used for the same purpose because of the simple reason that any firm would be better off without competition. An important reason why anti-dumping laws are abused is to obtain protectionist outcomes is the definition often used to label acts as acts of dumping. Sporadic dumping may be unintentional. It could be due to currency fluctuations or due to inexperience of the exporters. Thus. PTO . Also.e. even if it charges a competitive price for its products in the foreign country. Thus. even though the foreign markets will not be monopolized. According to this definition. then it pays to charge different prices in each market. Thus.23 tries to sell it in the foreign markets at lower prices to recover some cost. selling of goods at unreasonably low prices to drive out competition is prohibited and anti-dumping duties are slapped on firms even if the impact on these competing firms is negligent and temporary. even though antitrust laws are meant to protect competition. just because they may be lower than their home market prices because of several price determining factors such as markets. Also. the average price of the product in its home market. in countries like USA. and persistent dumping which may prove to be benefit to a nation since if the producer faces different marginal cost and marginal revenue lines in each market. which results in dumping. in sporadic dumping there is an occasional sale of a commodity at lower costs abroad to unload an unforeseen and temporary surplus of the commodity without having to reduce domestic prices. the anti-dumping duties will cause severe losses of producer surplus. according to their Robinson-Patman Act.

24 demand. many a times a supposedly fair price based on estimates of foreign production costs is used to calculate the dumping margins. anti-dumping duties are discriminatory. The principal argument against this practice is that if price discrimination is accepted as a valid measure domestically. Thus. each member has broad discretion in setting the conditions in antidumping allegations and taking advantage of these loopholes to demand protection. Since they produce diverse products. Since. Thus. Also. the definitions of domestic and foreign firms are often blurred. a company is allegedly dumping. advertising and selling costs. tariffs. the definition of dumping doesn’t consider the fact that normal values of goods may differ from time to time. it implies that the domestic industry can use this instrument to their benefit and target only those foreign firms it views as market rivals. how can it be called dumping merely because it is done internationally? Also. Additionally. one company may be treated as a domestic firm that seeks protection from dumping. This a fair price can interfere with perfectly legal business practices such firms willingly incurring losses to sell its goods and simultaneously reducing its costs through experience or making an entry into a new market. The WTO rules do not define market economy conditions. because it is often difficult to prove that foreign firms charge higher prices to domestic than export customers. skewed market functioning and corruption amongst producers leading to artificial deviances in prices or the company simply having lower cost of production than its foreign counterparts. in case of multinational firms. while for another product it may be PTO . one cannot just compare the face value of the prices of the good in the two countries to determine the dumping margin and impose a similar anti-dumping duty on the imports. domestic taxes.

There are many theoretical problems with some anti-dumping procedures. Allegations of unfair investigations abound. it has become too opaque to be able to correctly determine the validity of some anti-dumping measures. thus arbitrarily imposing anti-dumping charges on efficient and innocent producers. The WTO does mandate that the above factors be taken into consideration when determining whether or not dumping is occurring. However. The WTO's Antidumping Agreement was made very complex to help to deal with these problems.25 treated as a foreign firm. However. PTO . many developing nations and some industrialized nations believe that the most nations do not carry out this obligation in order to gain or keep the political favor of specific groups of voters. There is still much confusion as to whether countries are actually using WTO standards or not in their dumping investigations. posing to be a serious threat to the international market and jeopardizing the concept of free trade.

the importation of such goods from foreign countries as can be produced at home.26 Chapter II A legal perspective on anti-dumping: Why are Anti-dumping laws enacted and what is the reasoning behind the legislations of the WTO/GATT to curb predatory pricing and dumping? Answer:Political reality suggests that any government that attempts to establish or maintain an open import regime must have at hand some sort of pressure valve . either by high duties. the monopoly of the home market is more or less secured to the domestic industry employed in producing them. plagued with troublesome imports. It is the way in which the government then provides protection. PTO .some process to manage occasional pressures for exceptional or sector-specific protection. Thus. Adam Smith noted that by restraining. In fact. the purpose of anti dumping duty is to rectify the trade distortive effect of dumping and re-establish fair trade. Since the 1980s anti-dumping has served this function. anti dumping is an instrument for ensuring fair trade and is not a measure of protection for the domestic industry. Anti dumping is a measure to rectify the situation arising out of the dumping of goods and its trade distortive effect. It can be inferred from his writings generally that he was of the view that by imposing duties. An anti-dumping petition is the usual way in which an industry. or by absolute prohibitions. It provides relief to the domestic industry against the injury caused by dumping. The use of anti dumping measure as an instrument of fair competition is permitted by the WTO. will request an anti-dumping investigation. imports that harm domestic industries should be discouraged.

respectively. where the prices of goods are controlled by firms and not by the market forces.27 Anti-Dumping is a reactionary measure to the dumping of goods into a foreign market. When a country feels that another country is dumping goods into its economy it may institute anti-dumping measures to protect the interests of the domestic producers of that good. The lower price imports could decrease the amount of domestic products purchased. dumping can prove to be profit-maximizing strategy for a monopolist firm. and consumers have minimum access to goods meant for export purposes. slowdown of economic growth and spread of non-competitiveness. driving these local firms out of business. help in restoring the domestic economies and may thus prove to be prudent measures.e. The cumulative effect of these injuries. wherein the prices of their goods in the foreign markets are reduced temporarily. it is contended. PTO . The exponents of anti-dumping justify it on the ground that it is a defense mechanism in the hands of the importing country to safeguard their domestic producers. taking advantage of their newly acquired monopolistic status and cause material injury in the form of economic retardations of the locally established industries. The primary justification for anti-dumping measures is the perceived threat of predatory dumping. By imposing anti-dumping duties. These foreign firms then command the prices. In an imperfectly competitive and segmented market i. and domestic companies may not be able to lower their prices in order to compete with these imports. In such cases it is argued that anti-dumping measures are justified as they protect domestic industries from unfair competition from abroad. will finally lead to job losses. Firms may indulge in predatory dumping.

Also. Additionally. since it is difficult to determine whether dumping is predatory or not. It must be recorded however. either because they enable domestic factors of production to earn higher returns than in other sectors of the economy or because they generate externalities or spill over benefits for the rest of the economy. that predatory dumping is a rarity because it assumes capital market imperfection and an irregularity in financial resources that favor foreign producers. It also assumes an impossible coordination between firms to precisely calculate when and how much to dump to drive domestic industries out of business. PTO . Anti-dumping policy is the best instrument for achieving these objectives.28 dumped imports are discouraged and domestic firms maximize their own production and profits. It is frequently argued that such industries bring special advantages to a country. domestic producers demand protection against any form of dumping even if it actually not harmful. anti-dumping producers can disguise their fear of being destroyed by gigantic foreign rivals by asking for protection and accusing these foreign competitors of unfair trade practice. The main argument advanced for taking an anti-dumping measure against foreign producers is that such a step ensures that national producers get better experience than the foreign firms. From a petitioner point of view. anti-dumping stand out since it is a good instrument to obtain protection because imposing other restrictions like import tariffs or voluntary export restraints are inconsistent with the norms of the WTO and most governments are not open to help domestic producers with protection.

Anti-dumping in their view is the price paid for the maintenance of an open trading system among nations. exporting its surplus over domestic profit-maximizing sales at lower PTO . Antidumping duties restore relative pricing to prevailing world market conditions and hence efficient resource allocation. Government imposed trade barriers and government-tolerated anti-competitive practices permit domestic producers to create monopolies in their home market. anti-dumping is an instrument that is necessary as it acts as a safety valve that ensures domestic political support to trade liberalizing initiative. Producers in the importing countries fail to expand capacity. The main reason why international price discrimination is usually considered unfair is that a dominant firm. reducing worldwide efficiency. This enables them to charge a low price in export markets and compensate the loss by charging higher process in the domestic market without attracting foreign entry.29 According to them. This in turn leads to a chronic oversupply by inefficient producers on one hand and the closure of otherwise competitive facilities on the other. to improve productivity and to use all resources efficiently. which is adversely affected by free trade. The distorted price signals in the market thus stimulate overproduction of the exportable goods and underproduction of importable goods. Anti-dumping is a trade remedy for domestic producers injured by cheap imports. It is a tool that discourages predatory dumping. Anti-dumping is a GATT/WTO legal tool that is used to grant protection to the import competing domestic industry.

can benefit from economies of scale in production which its competitors abroad are not able to achieve. is the practice known as "zeroing. Here. PTO . However. all the legal loopholes and economic issues that this landmark case has risen in the Anti-dumping agreement under GATT and how do it affect the Indian producers? Answer:EC BED LINEN CASE Possibly the most egregious distortion of dumping.30 prices. essentially by setting the value of a negative dumping margin to zero. This is not something dealt with in article VI of the WTO Anti-Dumping Agreement. Chapter III The concluding chapter shall deal with the EC Bed Linen Case: A case of antidumping filed by the EU against India. Such a system could be sustained as long as its home market remains protected. such conduct enhances competition in the export market as long as the firm sets export prices at or above cost." Zeroing is a concept whereby non-dumped sales are not permitted to offset dumped sales. Selling abroad at a loss could only be rational for predatory purposes.

the prohibition of zeroing can have a very substantial impact on the amount of anti-dumping duties ultimately applied. it says. If every comparison generates a positive dumping margin. the authorities need to explain that zeroing is necessary and helps in tackling issues of targeted dumping.2). in almost every case. Zeroing of course makes dumping easier to find. may conceal dumping by selling at high prices at other times or places.4. Certainly. The EU50 and the US argue that zeroing should be authorized by the WTO.• A dumper. But that is an unsatisfactory rationale. The practice of zeroing had the effect.• But. the ADA51 allows national authorities to follow unusual trade practices if export prices differ significantly among different purchasers.31 It is a significant cause of the systemic overestimation of dumping margins and subsequent application of inflated anti-dumping duties. regions or time periods. But if there are many comparisons generating negative margins. of increasing the dumping margin. the impact of zeroing varies from case to case. However. to justify zeroing under that provision of the ADA(Article 2. moreover. even if targeted dumping is accepted as a plausible possibility. or if there are only a few generating large negative margins. then the prohibition of zeroing will have no impact. In many cases. the practice of zeroing also resulted in a dumping margin of more than the threshold of 2 per cent required to maintain an anti-dumping PTO . The European commission explains that zeroing is needed to combat targeted dumping.

The reason for support for the action was clear protecting the EU’s fabric weaving sector from low-priced import competition. The WTO Appellate Body has now conclusively determined in multiple cases that zeroing is contrary to member countries commitments under the WTO Anti. It is a measure that is fundamentally flawed in many respects and tends to give an unfair disadvantage to innocent producers. Hence. i. Article 2. the European Union was split about the case. an investigating authority is not taking into account all export transactions.Dumping Agreement (ADA). Equally obvious was PTO . However.2 of the ADA requires that an investigating authority take into account all comparable export transactions in the calculation of dumping margins. by converting negative dumping margins to zero. The EC Bed Linen Case: In September 1996 the European Communities (EC) initiated an anti-dumping case against imports from India of cotton-type bed linen.32 proceeding. those sales made at un-dumped prices. The WTO Appellate Body held that.e.4. The Appellate Body thus said that it was impermissible to ignore the effects of negative dumping.. zeroing generated a margin of dumping where there would otherwise not have been any. and thus should be not be followed. in many cases. In fact. the current stand of the WTO is that zeroing is not a practice in accordance with the provisions of the Anti-dumping agreement.

computed for each Indian respondent with the dumping margin being the difference between the weighted average constructed prices. not all five types were sold in India in the ordinary course of trade. Because there were so many Indian exporters and producers of the subject merchandise. In determining the home (Indian) market price for bed linen sold by investigated respondents. However. Thus. and had to use the constructed value.pillowcases and sheets) finding negative dumping margins on a number of them. It deemed any negative dumping margin as zero. The reason for using constructed value as a proxy for normal value was a lack of sales made in the ordinary course in the Indian market (the market was not viable). The EC established export price from prices actually paid or payable for cotton-type bed linen in the EC market and compared constructed value with export price. The EC identified five types of cotton bed linen exported to it and also sold in representative quantities in India.33 the reason for opposing the anti-dumping action: jobless companies that consumed the imports which incurred or faced redundancies as a result of the protective remedy. It then zeroed these to obtain a dumping margin for bed linen. cotton-type bed linen. the EC elected to analyze dumping from a sample of Indian companies. The panel ruled that the calculation did not take into account of all transactions. The EC calculated dumping margins for different models (for example. the EC took the constructed value as a substitute for Normal Value. as PTO . the EC could not base normal value on prices from these sales. In this computation EC applied a zeroing methodology.

i. and 3.e. in the EC’s actions against imports of cottontype bed linen from India. investigating the existence of margins of dumping taking account of the averaging of positive dumping margins in investigated products. selling and general (SG&A) costs and profits by using a method where data applicable to one other exporter or producer is used to apply to all others. AD investigations and measures such as: 1. the Appellate Body found fault with the EU Commission. but ignoring the cases where there are negative margins and giving a zero value to them instead. The WTO appellant body said that a comparison between export price and normal value does not fully take into account the prices of all comparable export transactions such as the practice of zeroing is not a fair comparison between export price and normal value (the price in the exporters home market) The Appellate Body of the World Trade Organization has faulted the methods adopted by the European Union in anti-dumping investigations and calculations of dumping and found them to be violative of the WTO’s Anti-Dumping (AD) agreement. and ruled in favor of India. The practice of zeroing. 2.34 WTO rules require it to. In its ruling. Calculating the amount of profits by excluding sales by other exporters or producers not made in the ordinary course of trade. and PTO . Calculating the administrative.

and made of cotton-type fibers. and the long timeperiod before any relief can be obtained by the exporters in such cases. packaged for sale either separately or in sets.35 4. but different dumping margins had to be calculated and zeroing had to be used. Using all types of bed-linen products . to establish dumping. the appellate body exposed the hypocrisy of the EC’s argument that bed linens were a single product.bed sheets. but using the various components of the imported product for calculating export price and normal value and averaging them. for certain purposes of investigation. As a final observation about the bed linen cases. PTO . dyed or printed .the WTO dispute settlement panels issuing the rulings shows. for different product types.as a single product competing with like products of the domestic industry. the extent of the abuse of the powers and trade harassment by the major industrialized countries. Despite the considerable leeway provided to the importing countries to invoke the Anti-dumping agreement’s instruments to protect their domestic industry . duvet covers and pillow cases. pure or mixed with man-made fibers or flax. and bleached.

S. allowing the corn to sell on Mexican markets cheaper than domestic corn.20 a bushel (25% below the cost to produce it). company can export it to Mexico and sell it for $2. This was intended to facilitate the price of corn in Mexico. it was equivalent to the world market average—having decreased over 70 percent.36 Examples of Dumping and Anti-Dumping Dumping EXAMPLE-I Dumping occurs when a surplus of a product exists in one country. Under NAFTA. say. $3 a bushel. Instead of a gradual decrease in the price of corn over fifteen years. the market price collapsed at an astonishing rate until. this did not occur. by 1997. could export to Mexico. the bottom fell out from beneath the feet of Mexican corn farmers. a U. while a farmer in Chiapas. Unfortunately for the Mexican farmer. often far below what a local farmer must sell his crop for in order to make a profit. which had been above world average. The amount was supposed to increase yearly until by the year 2008 when all limitations are removed. PTO . a yearly cap was placed on the amount of allowable amount of corn that the U.S. Corn is Mexico’s de facto national crop. allowing exporters to be able to sell that product at a deep discount in other countries. yet in post-NAFTA Mexico over 25% of the country’s corn market is now imported from America: an eighteen fold increase since the implementation of NAFTA. to fall slowly until it was more in line with the price of corn in America and Europe. Mexico may be able to grow corn for. In a little over two years. Thus.

but this time was PTO . Thus from the above example of Dumping we can see how it can affect a country’s economy and their residents and the Domestic Market. this will lead to forced sale of his farm. which was paid by Chilean farmers. and so trade relations with the USA are critical.37 This results in the Mexican farmer. after Norway. EXAMPLE – II Salmon: USA & EU/Chile: Chilean sales of salmon (Salmon is the common name for several species of fish in the family Salmonidae) to the USA are huge–US $2 billion in 2002. These former farmers often attempt to cross into the US in hopes of finding a way to earn money. However. Chilean companies had to harmonize their accounting systems to accord with US government standards for greater transparency. A further anti-dumping challenge followed. This was rejected by the ITC after the Chilean government was able to prove no such distorting subsidies existed. and a major contributor to Chile’s economy. whose field is likely less than five acres in size. Chile is now the second largest salmon and trout farmer in the world. The first anti-dumping challenge occurred in mid 1997. In turn. they often end up working for the very farm corporations that put them out of business. Ironically. not being able to sell his crop for a profit. fighting this allegation was very expensive though estimated at $22 million. when US salmon producers claimed that Chilean government subsidies were allowing producers there to sell below true production cost. The USA is Chile’s most important market.

and that this warrants action against third country imports. though. Latterly. the arguments being that material damage to the Scottish and Irish salmon farmers has occurred. This claim had some difficulties since: (i) Chile accounts for only 5% of EU supplies. a third US government review had concluded that 90% of Chilean producers should not be subject to duties. and this challenge has now been officially terminated completely. this issue has been reopened. PTO .38 company-specific. (ii) The fall in fresh salmon prices preceded a fall in those of frozen salmon by 6months In February 2003 the Fisheries Commission of the European Parliament terminated the investigation finding no grounds to proceed. setting tariffs at various levels around 5%. In July 2002 Irish and Scottish salmon farmers claimed that Chilean frozen salmon was being sold in the EU at below production cost. However by February 2003. so causing a fall in fresh salmon prices. In the EU. there has been a similar claim made against Chilean salmon. this time the emphasis is on a ―safeguard‖ approach.

exports beef products back into Mexico in large numbers accounting for over 18% of the U.S. the four major U.S. than it imports. Some countries institute de facto anti-dumping measures involving packing standards. health standards.S. In addition. PTO . if not impossible. beef packers are being charged anti-dumping tariffs ranging from zero to 7. The measures still exist and American beef packers are still seeking a decision by international trade courts. the U.6% on bone in and boneless beef products exported to Mexico while all the other U.S. beef offal is hit with a 215% anti-dumping tariff for all American packers except the big four who pay anywhere from 3% to 26% duty on the same products. for some countries to maintain. in response to complaints from its farmers. beef market which amounted to over $450 million worth of beef products.I US beef imports to Mexico While Mexico exports more live cattle to the U. However. instituted anti-dumping tariffs on US beef products.39 Anti-Dumping: EXAMPLE . The Mexican government. packers must pay 75% on boneless beef and 13% on bone-in beef.S. or manufacture standards that would prove extremely costly.

The countries being affected cannot fight such measures as these standards are matters of internal domestic affairs.43 per cent below the fair market value of the product. EXAMPLE-II Imports of Steel Pipes from India to USA The US has imposed a preliminary anti-dumping duty on import of certain types of steel pipes from India. and the WTO has ruled that countries have to right to enact such laws as ways to ensure the health of citizens.circular welded carbon-quality steel pipe in the US at 48. about a month after New Delhi lodged a complaint with WTO against the US for imposing anti-subsidy duties on import of certain Indian steel products. or margin ranges.." it said. the Department said. In the India investigation.40 These measures have the same result of monetary anti-dumping measures: they usually result in the decrease of importation of those products into the domestic market.. of 48. The US Department of Commerce said it has "preliminarily determined" that Indian firms were selling the pipes -. sold certain steel pipe in the United States at dumping margins. "Commerce preliminarily determined that producers/ exporters from India .43 per cent. the mandatory respondent Zenith Birla PTO .

sprinkler pipe. the Department "will instruct" US Customs and Border Protection (CBP) to require a cash deposit or bond based on these preliminary rates from importers. the US had imposed preliminary countervailing duties of about 286 per cent on certain steel pipe from India. The pipe is generally known as standard pipe. and structural pipe. "There is an existing anti-dumping (AD) order on certain steel pipe from India.41 (India) (previously known as Zenith Steel Pipes and Industries) received a preliminary dumping margin of 48... As a result of the preliminary affirmative determinations.6 million. Therefore. In March. In 2011. PTO . India had requested consultations with Washington under the World Trade Organization (WTO) dispute settlement system concerning the latter's countervailing duties on certain steel products from India." it said. Last month.43 per cent. this investigation covers only merchandise manufactured and/or exported by Zenith Birla. fence pipe and tube. the US imports of pipes from India were estimated at USD 64..

One significant aspect of this new trend is the increasing involvement of developing countries. heavy unemployment and declines in incomes and PTO . India is one such country which has emerged as a frequent user of anti-dumping measures. In case of allegations and anti-dumping duties slapped on economically weaker nations. However. it is these small scale industries which suffer the most as a result of imposition of anti-dumping duties. it could result in a stunt of economic growth for these developing countries. resulting in a fall in production. Critics of anti-dumping duties though find it difficult to prove the fact that the imposition of anti-dumping duties results in economic benefits to the domestic industry. Consumers are aggrieved as well.42 CONCLUSION The use of anti-dumping measures as a trade protection tool has increased phenomenally during the last decade. as they feel deprived of the lower costs and availability of variety of goods. Even the threat of imposition of antidumping duties has a serious adverse effect on the functioning of small and medium size firms. Those in favor of anti-dumping duties argue that it is a tool of protection in the hands of the domestic producers against the cheaper foreign imports. The role of the government in tackling the problem of anti-dumping should be to protect the smaller industries rather than concentrating on the major industries. This is because. as they are unable to develop secure and stable long term industries. they are acting as barriers for free trade and domestic producers are concerned about avoiding competition. safeguarding competition in domestic industry is not the only purpose that antidumping laws serve and in the present situation.

The capital dumped in the concerned industry and the employment generated by that industry cannot be allowed to go nonfunctional. and higher national income. Anti-dumping duties were imposed by developed countries to protect their industries against the low priced imports. Developing countries wanted anti-dumping rules to be tight and explicit as possible. it is unrealistic to hope that the WTO will remove PTO . The wage rate differs from country to country.43 increases in poverty levels. The negotiating stance of developing countries like India should be for tightening the agreement. To allow marginal cost based pricing to adversely affect industry in other countries cannot be justified on social welfare grounds. It is a settled economic fact that firms are guided by profitmaximizing motives. Right from the beginning there was a clear division between the fundamental aims of those countries whose exports were most commonly exposed to antidumping action (developing countries) and those which took such action (mostly developed countries). Even though abolishment of these anti-dumping laws will lead to increased competition. allowing minimum transparency. This is not to say that the industry should be protected at all costs. The profits keep increasing till the time that marginal revenue is greater than marginal cost. the economies differ and the demand levels are also different. more efficient production. This is because India is a victim if the costs and benefits to different industry segments are assessed at an aggregate level. their proposals tended to be the most radical and controversial. Developed countries wanted to retain and even expand their discretion to meet what they saw as being used by companies to get around the present rules of anti-dumping code and thereby cause injury to domestic industry. lower prices for consumers.

44 this trade device in the near future. But before things become worse. The WTO rules need to be formulated so as to target only predatory dumping and not persistent or sporadic dumping. All countries need to have the uniform standards for determination of the dumping margins so as to maintain fairness. As politics. it undercuts rather than supports a policy of openness. to reconsider its definition and analyze as to what is essentially fair and what is not and keeping in mind the gross abuse of anti-dumping laws answer the very fundamental question of whether these laws are necessary at all.identification of impact on import competing interests . As economics. an immediate reform is necessary and the WTO anti-dumping rules need to be amended to allow a more transparent process of investigation and to determine correctly whether the material injury caused is because of dumping or higher competition. this suggestion means simply that what is done in an "injury test. it is necessary to justify the use of anti-dumping laws as tools against unfair trade. equally with those domestic interests that would benefit. but not to domestic users. The "morality" of the foreign interest is irrelevant .the issue is the plus and minus on the domestic economy. While aiming at consumer welfare. Operationally. anti-dumping action looks at only half of the economic impact on the domestic economy. be they user enterprises or consumers. The key characteristic of a sensible safeguard procedure is that it treats domestic interests that would be harmed by an import restriction." . by giving voice to only the negative impact of trade on domestic interests and by inviting such interests to blame their problems on the "unfairness" of foreigners.is repeated for users of imports. PTO . It gives standing to import competing domestic interests.

These measures would ensure that antidumping laws are fairly applied and assist only those producers who suffer as a result of the low prices. The implementation of anti-dumping measures should be subject to the close inspection of the WTO. Countries should more amply inform their public of the costs and benefits of anti-dumping measures so as to promote an unbiased and fair public opinion on this matter.45 Some argue that there must be more rigorous anti-dumping rules that must be formulated at the domestic and international level. and not arbitrarily affect the production of efficient producers who are not in error. The notion of predatory pricing must be clearly incorporated in the definition of dumping. The burden of proof of dumping must be placed squarely on the party initiating dumping cases. Bibliography BOOKS: PTO .

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