Part III World Trade Law and Regional Trade Agreements, XIX Subsidies and Anti-dumping Measures
- International investment law — International monetary law — Anti-dumping — Goods — International customs law
This chapter covers State subsidy and anti-dumping measures. Industrialized countries account for the great bulk of subsidies (especially in the agricultural sector). Although subsidies are a popular instrument of State intervention in the economy, GATT only addresses them in a rather rudimentary and timid way. Thus the chapter discusses other measures for regulating subsidies, and devotes particular attention to the Agreement on Subsidies and Countervailing Measures (SCM Agreement). Moreover, as GATT does not categorically prohibit subsidies, it does not categorically ban dumping measures either, which the chapter elaborates on in more depth. ‘Dumping’ in this context refers to the marketing of exported goods at a price inferior to its normal value.