Current Affairs
Select Date
Tags:
Hindi

Anti-dumping duty imposed on imports of steel wire rods from China

The Union Government has imposed anti-dumping duty on imports of steel wire rods from China to protect domestic manufacturers from cheap in-bound shipments. 
●    In this regard, the Department of Revenue (DoR) has issued a notification mentioning that dumping duty has been imposed for six months. 
●    The protectionist measures against cheap Chinese imports were taken based on the recommendation of Directorate General of Anti-Dumping and Allied Duties (DGAD). 
●    Anti-dumping duty is an import duty imposed by government on imported products which have prices less than their normal values or domestic price. 
●    Thus, it is protectionist and counter import measure used by a country under the multilateral World Trade Organisation (WTO) regime to protect its domestic producers and market from below-cost/cheap imports.