What is AntiDumping duty UPSC Current Affairs 2024 NEXT IAS

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The Directorate General of Trade Remedies (DGTR) has recommended the imposition of an anti-dumping duty on sodium cyanide (NaCN) imported from China, the European Union, Japan, and Korea to guard the domestic players against cheap imports. • anti-dumping duty news, • Sodium cyanide is used in the extraction of gold and silver from their respective ores, in electroplating and the heat treatment of metals, and in making insecticides, dyes, pigments, bulk drugs, etc. • What is anti-dumping duty? • It is a tariff imposed on imports manufactured in foreign countries that are priced below the fair market value of similar goods in the domestic market. • The duty is priced in an amount that equals the difference between the normal costs of the products in the importing country and the market value of similar goods in the exporting country. • The use of anti-dumping measures as an instrument of fair competition is permitted by the WTO. • #wto #import #upsc #anti-dumping #chinesegoods #currentaffairs #upscprelims #nextiascurrentaffairs #upsc2024 #nextias #importduty • Keep Learning • ‪@nextias‬

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