MGCR 382 Lecture Notes - Lecture 4: Countervailing Duties, World Trade Organization
22 Jan 2015
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Mgcr 382: international business - lecture 4: trade policy. Promotion of trade: subsidies financial rewards given by government in order to improve production/making more efficient, foreign trade zones, exporting financing programs. Promotion of trade could result in retaliation from a different: countervailing duties: mitigating the advantage given by the foreign market. Nullifying the advantage given by the subsidy in a previous market: antidumping regulations, safeguards: trade restrictions for a period of time. The wto, global free trade vs regional trade deals. Trade relations post the world war were in poor conditions. A combined input by countries resulted in the gaat (general agreement on tariffs and trade). One of the major pillar of gaat mfn (most favored nation clause) where you treat one and all countries as your most favored nations. Tariff reduction for one country extends to all. An important weakness addressed was the dispute resolution". Implementing a panel of expertise that have the power to saction or compensate.
