Tariff Wars: How the EU and the US Can Justifiably Impose Tariffs on Chinese Steel Imports Name Institution Course Date Part 1 Contingent protection is the right/s of WTO member countries to introduce trade restrictions against foreign imports subjects to fulfilment of WTO regulations. Tharakan (20000) outlines the three contingent protection measures sanctioned by WTO; anti-dumping countervailing duties and safeguard protection. a. Antidumping Antidumping is a legitimate way of increasing tariffs against imports that cause material injury to the domestic industry. This involves the exporting country selling the product at a lower price than in its domestic market or in other countries. For instance dumping happens when a toy from China is sold at $10 in the U.S. market yet it is sold at $15 in China. The low pricing of imports impacts domestic industries negatively by creating unfair competition. Once a country establishes that this is the case cheap manpower and an unrivaled capacity for ass production. The question therefore is not whether the EU and the US can effectively use the provisions of WTO to stop Chinese steel imports from flooding the U.S. and European market but whether they will ever marshal the required production capacity to rival Chinese manufacturers. Reference List Ellyat H. ‘US hits China and others with more steep steel duties ” CNBC accessed July 2 2016 www.cnbc.com Hoogmartens J. EC Trade Law Following China's Accession to the WTO Kluwer Law International London. Miller J. W. & W Mauldin “US imposes 266% duty on some Chinese steel imports ” The Wall Street Journal accessed July www.wsj.com Nakagawa J. 2007 Anti-dumping Laws and Practices of the New Users Cameron May London. Tharakan P. K. 2000 The problem of anti-dumping protection and developing country exports United Nations University World Institute for Development Economics Research Japan. [...]
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