Antidumping Duty

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Antidumping Duty

In international commerce, a tariff placed on an import that is unusually low-priced. Dumping is the act of exporting a good to a foreign country to capitalize on the price difference. Dumping can result in a handsome profit for the exporter, but it can also damage the importing country's local economy. Thus, many countries attempt to counteract the practice by implementing anti-dumping duties.
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References in periodicals archive ?
The decision comes after President Donald Trump in May agreed to lift punitive duties on steel from Mexico, which joined the United States and Canada in negotiating a new North American trade pact last year.
In a sharp deterioration in the US-China trade war, Trump last week ramped up the punitive duties for the vast majority of US imports from China.
Trump's latest Twitter rant came after Beijing unveiled retaliatory tariffs on $75 billion in US goods, targeting crude oil for the first time and renewing punitive duties on American-made automobiles.
US importers, retailers and shippers are bracing for a new round of punitive duties on Chinese goods set to hit in two steps, September 1 and December 15, likely to drive a rush to get products before the holiday shopping season as they did last year.
Washington has already slapped punitive duties on USD250 billion worth of Chinese imports.
"This extremely presumptuous and egocentric American approach is not able to gain the approval and support of the international community." The two countries have yet to set a date to recommence trade negotiations after they resumed their tariffs battle earlier this month, with Trump raising punitive duties on $200 billion in Chinese goods and Beijing hiking those on $60 billion in American products.
Trump had been facing a Saturday deadline to announce whether to implement 25 percent punitive duties on autos -- a possibility that worried the European Union and Japan in particular, as well as Mexico and Canada.
Trump had accused Beijing of reneging on its commitments in trade talks and ordered new punitive duties, which took effect Friday, on $200 billion worth of Chinese imports, raising them to 25 percent from 10 per cent.
The dispute has escalated to encompass $360 billion in trade between the two economic superpowers, and without an agreement by the start of March, the Trump administration is poised to more than double the punitive duties on $200 billion in Chinese goods.
ISLAMABAD -- The third money bill of the fiscal year to be presented in the parliament on Jan 23 would offer major incentives to boost stock market, housing, agriculture and industrial sector besides imposing punitive duties on luxury imports.
Exports to the United States in 2018 rose 11.3 percent to $478.4 billion despite Trump's punitive duties in a fight over Chinese technology ambitions, customs data showed Monday.
But now its chickens are coming home to roost, with a growing number of countries imposing antidumping or punitive duties on Chinese goods.