10 Subsidies and Countervailing Duties
Mitsuo Matsushita, Thomas J. Schoenbaum, Petros C. Mavroidis, Michael Hahn
Mitsuo Matsushita, Thomas Schoenbaum, Petros C. Mavroidis, Michael Hahn
- 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.