Abstract
The common sense view of dumping is that it is an unfair trading practice against which nations should legitimately be able to introduce countervailing measures: No government can be expected to stand by whilst its markets are flooded by foreign imports whose prices are kept artificially low in relation to the price of the product on its own tariff-protected domestic market. It is this type of unfair trading advantage which anti-dumping legislation is designed to combat (Stanbrook, 1980). In line with this view, Article VI of the General Agreement on Tariffs and Trade (GATT) permits importing countries to impose anti-dumping duties in appropriate circumstances, normal GATT obligations notwithstanding, although it is interesting to note that the practice of dumping is not in itself contrary to any of the GATT rules. As a result, individual nations and trading blocks have developed extensive anti-dumping laws and regulations that are broadly consistent with Article VI and with the associated GATT Anti-Dumping Code, which interprets the provisions of Article VI and elaborates rules for their application.
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