India has imposed anti-dumping duties of up to USD 185.51 per tonne for five years on certain varieties of Chinese steel to guard domestic players from cheap imports from the neighbouring country.
About:
Anti-Dumping Duty: These are additional import duties which are imposed to check dumping. Dumping refers to export/sale of a commodity in foreign country by a company at a price which is lower than domestic market price. As per WTO Norms, Member countries can impose Anti-Dumping duty if:
Exporter is dumping goods &
It is adversely affecting domestic industries.
Counter-veiling duty: It is an additional import duty which is imposed to counter or offset the impact of Indirect tax differential or subsidy provided by the exporting country’s government.
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