
Trade |
|
U.S. Leads In Anti-Dumping Activities |
According to a new report from the Congressional Budget Office, U.S. anti-dumping statutes are among the harshest in the world and anti-dumping cases are being prosecuted at an alarming rate. Anti-dumping efforts are designed to penalize low-cost imports allegedly "dumped" on foreign markets at prices below those charged in other countries or below the cost of production.
The U.S. had 294 anti-dumping measures in effect in 1995 -- more than twice as many as any other country and 35 percent of the world total. Only 87 measures were in effect against American companies at that time. The International Trade Commission has estimated that anti-dumping and countervailing duty orders in 1991 cost the economy about $1.6 billion. Trade analysts say that while such activities serve the interests of firms by shielding them from foreign competition, they bring only harm to consumers. Source: Perspective, "Who Protects the Consumer," Investor's Business Daily, June 22, 1998. |