Exam 11: Regulating Import Competition and Unfair Trade

To be eligible for adjustment assistance due to import competition,the Secretary of Labor must certify all of the following except:

When a petition for import relief is filed with the International Trade Commission,the ITC conducts an investigation and must consider all the following factors except:

If domestic workers are damaged by foreign competition,they may be entitled to two (2)years of state unemployment benefits and federal trade adjustment assistance.

All subsidies are even those that are beneficial to domestic,economic,and social objectives are considered damaging to the international economy.

Dumping does not occur when there is no market for the product in the home country.

A subsidy is some advantage or favor granted by a government to its firms upon the manufacture,production,or export of a product,and such actions are beneficial to the international economy.

Subsidies in non-market economy countries are difficult to determine because:

Identify and evaluate the importance of the several factors taken into account in an ITC proceeding to impose import restrictions.

The International Trade Commission is the U.S.agency that investigates and after reviewing all the evidence makes the final determination whether or not import relief will be granted to a domestic firm.

Antidumping and countervailing duty cases may be appealed to the U.S.Court of International Trade in all of the following situations except:

If country A gives favorable tax treatment to XYZ,Inc.a corporation in country A,because XYZ,Inc.exports a large number of widgets,this tax break is referred to as a(n):

An actionable subsidy is one that:

Dumping does not require that the product be sold in the home country for less than the cost to produce it.

U.S.countervailing duty statutes: I.Countervail all export subsidies. II.Countervail all domestic subsidies.

The President of the United States can by executive order provide import relief in the form of temporary tariff increases or quotas without having to consulting any other organization.

Under the law of the European Union,a country may only bring an antidumping action against a non-EU member country.

In response to the petition for relief filed by Harley-Davidson Motor Company:

Assess the various legal "tools" available to the president to gain freer access to foreign markets for U.S.products.

If the International Trade Commission reaches an affirmative decision in an escape clause action,workers,firms,and communities may be eligible for federal adjustment assistance.

Consider the relative merits of including debt expenses in the calculation of the fair market value of an imported product.Consider this both in terms of the business exporting the good and the business importing the good.