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Anti-dumping Authorities
Dumping, in economics, is a form of predatory pricing, especially in the context of international trade. It occurs when manufacturers export a product to another country at a price below the normal price with an injuring effect. The objective of dumping is to increase market share in a foreign market by driving out competition and thereby create a monopoly situation where the exporter will be able to unilaterally dictate price and quality of the product. Trade treaties might include mechanisms to alleviate problems related to dumping, such as countervailing duty penalties and anti-dumping statutes. Overview A standard technical definition of dumping is the act of charging a lower price for the like product in a foreign market than the normal value of the product, for example the price of the same product in a domestic market of the exporter or in a third country market. This is often referred to as selling at less than "normal value" on the same level of trade in the ordinary cour ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economics
Economics () is a behavioral science that studies the Production (economics), production, distribution (economics), distribution, and Consumption (economics), consumption of goods and services. Economics focuses on the behaviour and interactions of Agent (economics), economic agents and how economy, economies work. Microeconomics analyses what is viewed as basic elements within economy, economies, including individual agents and market (economics), markets, their interactions, and the outcomes of interactions. Individual agents may include, for example, households, firms, buyers, and sellers. Macroeconomics analyses economies as systems where production, distribution, consumption, savings, and Expenditure, investment expenditure interact; and the factors of production affecting them, such as: Labour (human activity), labour, Capital (economics), capital, Land (economics), land, and Entrepreneurship, enterprise, inflation, economic growth, and public policies that impact gloss ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Zeroing (trade)
Zeroing refers to a controversial methodology used by the United States for calculating antidumping duties against foreign products. The foreign domestic price (FDP) of the product is compared with its U.S. import price (USIP) adjusted for transportation and handling costs. Under zeroing, the United States sets at zero the negative differences (that is whenever FDP minus USIP is less than zero). Critics of this methodology charge that, because negative amounts are excluded, zeroing results in the calculation of a margin and an antidumping duty in excess of the actual dumping practiced by the countries concerned. The European Union has called for establishment of a World Trade Organization The World Trade Organization (WTO) is an intergovernmental organization headquartered in Geneva, Switzerland that regulates and facilitates international trade. Governments use the organization to establish, revise, and enforce the rules that g ... dispute settlement panel to rule on the U.S ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
GATT Anti-Dumping Code
The General Agreement on Tariffs and Trade (GATT) is a legal agreement between many countries, whose overall purpose was to promote international trade by reducing or eliminating trade barriers such as tariffs or quotas. According to its preamble, its purpose was the "substantial reduction of tariffs and other trade barriers and the elimination of preferences, on a reciprocal and mutually advantageous basis". The GATT was first discussed during the United Nations Conference on Trade and Employment and was the outcome of the failure of negotiating governments to create the International Trade Organization (ITO). It was signed by 23 nations in Geneva on 30 October 1947, and was applied on a provisional basis 1 January 1948. It remained in effect until 1 January 1995, when the World Trade Organization (WTO) was established after agreement by 123 nations in Marrakesh on 15 April 1994, as part of the Uruguay Round Agreements. The WTO is the successor to the GATT, and the original ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Omnibus Trade And Competitiveness Act Of 1988
The Omnibus Trade and Competitiveness Act of 1988 is an act passed by the United States Congress and signed into law by President Ronald Reagan. History During the 1970s, the U.S. trade surplus slowly diminished and turned into an increasing deficit. As the deficit increased through the 1980s, some of the blame fell on the tariffs placed on US products by foreign countries, and the lack of similar tariffs on imports into the United States. Workers, unions and industry management all called for government action against countries with an unfair advantage. The Omnibus Trade and Competitiveness Act started as an amendment proposed by Rep. Dick Gephardt (D-MO) to order the Executive branch to thoroughly examine trade with countries that have large trade surpluses with the United States. If the trade surpluses continued, the offending country would be faced with a bilateral surplus-reduction requirement of 10%. Because of its style of zero-sum game thought, it is considered by e ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Emergency Steel Loan Guarantee And Emergency Oil And Gas Guaranteed Loan Act Of 1999
An emergency is an urgent, unexpected, and usually dangerous situation that poses an immediate risk to health, life, property, or environment and requires immediate action. Most emergencies require urgent intervention to prevent a worsening of the situation, although in some situations, mitigation may not be possible and agencies may only be able to offer palliative care for the aftermath. While some emergencies are self-evident (such as a natural disaster that threatens many lives), many smaller incidents require that an observer (or affected party) decide whether it qualifies as an emergency. The precise definition of an emergency, the agencies involved and the procedures used, vary by jurisdiction, and this is usually set by the government, whose agencies (emergency services) are responsible for emergency planning and management. Defining an emergency An incident, to be an emergency, conforms to one or more of the following, if it: * Poses an immediate threat to life, he ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Geneva Steel
Geneva Steel was a steel mill located in Vineyard, Utah, United States, founded during World War II to enhance national steel output. It operated from December 1944 to November 2001. Its unique name came from a resort that once operated nearby on the shore of Utah Lake. Integrated Steel mill The plant was an integrated steel mill. Raw materials were shipped in by rail, processed into steel and steel products, and then reshipped by rail and truck to their final market. The plant, in addition to having all of the facilities for primary steel making, included on-site conversion of coal into coke, plus other facilities for post-processing of coal byproducts, including production of inorganic fertilizers. Blast furnaces converted raw iron ores into pig iron, and final conversion into steel was via open hearth furnaces. Rolling mill facilities for forming steel into plate, and some structural shapes were also located there. At its peak of operations Geneva Steel was the large ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Laclede Steel
Alton Steel is a steel manufacturer, based in Alton, Illinois, United States. The company is a reincarnation of the Laclede Steel Company, which halted operations of its mill in 1998. The company entered bankruptcy in 2001, but emerged in 2003 with the new name and new owners. The reborn company employs over 260 hourly and 100 salaried workers in the area. History Laclede Steel was incorporated in 1911 by Thomas Russell Akin who was succeeded by William Markham Akin who in turn was succeeded by Paul B. Akin (Paul's son Congressman and 2012 Republican Senate nominee Todd Akin was a manager of the company but did not become chairman). It owned two electric-arc furnaces, and owned mills in Alton, Illinois, Fairless Hills, Pennsylvania, Vandalia, Illinois and Benwood, West Virginia. Its products included strip, hot rolled bars, wire, pipe, structural tubing and plate. Laclede was one of the companies contracted by the Port Authority of New York and New Jersey to supply steel for con ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1998 Russian Financial Crisis
The Russian financial crisis (also called the ruble crisis or the Russian flu) began in Russia on 17 August 1998. It resulted in the Russian government and the Russian Central Bank devaluing the Russian rouble, ruble and sovereign default, defaulting on its debt. The crisis had severe impacts on the economies of many neighboring countries. Background and course of events The Russian economy had set up a path for improvement after the Soviet Union had split into different countries. Russia was supposed to provide assistance to the former Soviet states and, as a result, imported heavily from them. In Russia, foreign loans financed domestic investments. When it was unable to pay back those foreign borrowings, the ruble devalued. In mid-1997, Russia had finally found a way out of inflation. The economic supervisors were happy about inflation coming to a standstill. Then the crisis hit, and supervisors had to implement a new policy. Both Russia and the countries that exported to i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
October 27, 1997 Mini-crash
On October 27, 1997, a global stock market crash was caused by an Asian financial crisis, economic crisis in Asia, the "Asian contagion", or ''Tom Yam, Tom Yum Goong crisis'' (). The point loss that the Dow Jones Industrial Average suffered on this day currently List of largest daily changes in the Dow Jones Industrial Average, ranks as the 18th biggest percentage loss since the Dow's creation in 1896. This crash is considered a "mini-crash" because the percentage loss was relatively small compared to some other notable crashes. After the crash, the markets still remained positive for 1997, but the "mini-crash" may be considered as the beginning of the end of the 1990s economic boom in the United States and Canada, as both consumer confidence and economic growth were mildly reduced during the winter of 1997–1998 (with neither being strongly affected, compared to the rest of the world), and when both returned to pre-October levels, they began to grow at an even slower pace than b ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1997 Asian Financial Crisis
The 1997 Asian financial crisis gripped much of East Asia, East and Southeast Asia during the late 1990s. The crisis began in Thailand in July 1997 before spreading to several other countries with a ripple effect, raising fears of a worldwide economic meltdown due to financial contagion. However, the recovery in 1998–1999 was rapid, and worries of a meltdown quickly subsided. Originating in Thailand, where it was known as the ''Tom yum, Tom Yum Kung crisis'' () on 2 July, it followed the financial collapse of the Thai baht after the Thai government was forced to floating currency, float the baht due to lack of list of circulating currencies, foreign currency to support its currency fixed exchange rate, peg to the U.S. dollar. Capital flight ensued almost immediately, beginning an international chain reaction. At the time, Thailand had acquired a burden of foreign debt. As the crisis spread, other Southeast Asian countries and later Japan and South Korea saw slumping currencies, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Countervailing Duties
Countervailing duties (CVDs), also known as anti-subsidy duties, are trade import duties imposed under World Trade Organization (WTO). They are applied following an investigation that determines a foreign country's subsidies on exports have harmed domestic producers in the importing country. These duties aim to counterbalance the adverse impacts of such subsidies. According to World Trade Organization rules, a country can launch its own investigation and decide to charge extra duties, provided such additional duties are in accordance with the GATT Article VI and the GATT Agreement on Subsidies and Countervailing Measures. Since countries can rule domestically whether domestic industries are in danger and whether foreign countries subsidize the products, the institutional process surrounding the investigation and determinations has significant impacts beyond the countervailing duties. By country United States Countervailing duties in the U.S. are assessed by the International Trad ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Armenia
Armenia, officially the Republic of Armenia, is a landlocked country in the Armenian Highlands of West Asia. It is a part of the Caucasus region and is bordered by Turkey to the west, Georgia (country), Georgia to the north and Azerbaijan to the east, and Iran and the Azerbaijani exclave of Nakhchivan Autonomous Republic, Nakhchivan to the south. Yerevan is the Capital city, capital, largest city and Economy of Armenia, financial center. The Armenian Highlands has been home to the Hayasa-Azzi, Shupria and Nairi. By at least 600 BC, an archaic form of Proto-Armenian language, Proto-Armenian, an Indo-European languages, Indo-European language, had diffused into the Armenian Highlands.Robert Drews (2017). ''Militarism and the Indo-Europeanizing of Europe''. Routledge. . p. 228: "The vernacular of the Great Kingdom of Biainili was quite certainly Armenian. The Armenian language was obviously the region's vernacular in the fifth century BC, when Persian commanders and Greek writers ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
