The history of anti-dumping actions dates back many decennaries ago when Canada for the first clip took such an action. In due class the pattern was followed by many other states viz. Australia. the Grat Britain and the USA. When the General Agreement on Tariffs and Trade ( GATT ) was drafted. it included commissariats for enforcing company specific anti-dumping responsibilities against monetary value favoritism in import trade.
Significant duty decrease committednesss have been undertaken in the Uruguay Round. By the terminal of the execution period. duties on industrial merchandises in the developed states would come down from a trade-weighted norm of 6. 3 % to 3. 9 % . Similarly. through Article X1 of the GATT 1994 it has been ensured that no prohibitions or limitations. other than responsibilities. revenue enhancements or other charges ( in conformity with Article II of the GATT. 1994 ) are made effectual whether through quotas. import or export licence or other steps.
Therefore. a relatively much freer-market entree has been ensured through the consecutive Rounds of Trade Negotiations. culminating in the Urguay Rounds of Trade Negotiations. culminating in the Urguay Round. But with this. there has besides been a fright of domestic markets being swamped by the dumped goods. subsidised goods or by a sudden rush of imports as a consequence os some unanticipated developments. doing material hurt to the domestic industry. These state of affairss are taken attention of by the Agreement on Implementation of Article VI of the GATT. Agreement on Subsides and Countervailing Measures and the Agreement on Safeguards severally. These Agreements although are comparatively lesser known but they have a great bearing on the many-sided trading system.
Today. anti dumping steps are looked upon as one of the most effectual trade steps through which involvements of domestic industry can be protected in certain specific fortunes. The figure of anti dumping probes being initiated are increasing twenty-four hours by twenty-four hours. More and more states are utilizing these steps to protect their domestic industry against dumped imports.