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10 Subsidies and Countervailing Duties

Mitsuo Matsushita, Thomas J. Schoenbaum, Petros C. Mavroidis, Michael Hahn

From: The World Trade Organization: Law, Practice, and Policy (3rd Edition)

Mitsuo Matsushita, Thomas Schoenbaum, Petros C. Mavroidis, Michael Hahn

From: Oxford Public International Law (http://opil.ouplaw.com). (c) Oxford University Press, 2021. All Rights Reserved.date: 23 September 2021

Developing countries — Subsidies — Sources of international law

The Agreement on Subsidies and Countervailing Measures (SCM) is an integral part of the World Trade Organization (WTO) Agreement. It provides for the first time a legal definition of what constitutes a subsidy for the purposes of the multilateral trading system. This chapter first deals with the definition and classification of subsidies. It then discusses the institutional mechanisms aimed at counteracting subsidies; preferential rules for developing and least developed countries; and the Committee on Subsidies and Countervailing Measures.

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