Exam 11: Regulating Import Competition and Unfair Trade

Under U.S.law,a petition for import relief may be filed with the International Trade Commission by any firm,trade association,union,or group of workers.

The "escape clause" of the GATT agreement derives its name from the fact that:

If a country is not a member of GATT,under U.S.law a countervailing duty can be imposed without regard to whether a U.S.firm is injured or not.

"Scenario" Tax credits extended by the Japanese government to Japanese computer chip manufacturers on the basis of the volume of their chip sales in the United States.

A provisional measure is a tariff imposed by a country in order to ensure that dumping does not take place.

A subsidy exists where the government has conferred a benefit to a domestic firm or industry,except:

The United States International Trade Commission investigated the Harley-Davidson complaint.It found that imports of competitive motorcycles were damaging the domestic industry,however the argument for protection was baseless.

The GATT Agreement on Safeguards permits a member state to increase tariffs on an imported product in order to allow a domestic manufacturer to successfully introduce a competitive product in the domestic market.

The GATT Agreement has an escape clause whereby member nations may levy increased duties on imported products where there are unforeseen circumstances that cause or threaten serious injury to domestic producers.

The GATT escape clause allows member nations to take drastic permanent measures to protect a domestic industry and thereby preserve jobs.

Under U.S.law,the foreign market value for antidumping duty determination is calculated as either home market sales price,sales of like products in third countries,or "normal value at the retail level."

Dumping has become a fairly persistent problem in international trade and is often practiced by firms wishing to sell their excess production capacity at bargain prices to cover fixed costs.

Subsidies including domestic subsidies are regulated under the GATT Agreement.

Available forms of import relief include:

In non-market economy countries,the determination of foreign market value is usually based on:

What are the similarities and differences between unfair trade and fair,but economically damaging trade?

Which of the following might be considered a sign of market disruption within domestic firms due to increased imports of foreign goods?

Quotas are often favored over tariffs as import restrictions because: I.They are more flexible tools for regulating imports. II.It is easier for government policy makers to assess the potential impact of a quota.

"Scenario" Loan guarantees by the French government to French filmmakers who utilize French equipment in the making of their movies.

In the Pesquera Mares Australes v.United States case,the court found that the Chilean salmon exporter had not violated U.S.antidumping laws.