Law Essay Example | Topics and Well Written Essays - 2000 words - 5

Law - Essay ExampleThis restriction emanate from the fact that such volume-footed measures are more than economically destabilising than any price based trade measures like taxes and tariffs. Article XI also prescribes small exception to this rule namelyAn export or import restriction or ban which may be viewed as a detriment may be challenged as quantitative restriction which is veto by Article XI of GATT. However, if commerce on interior(prenominal) product is also banned, then the import ban might be viewed as an innate effort enforced at the point of importation, which is allowed by Article III (4) of GATT. (Chris Wold 1996850).Dumping means when merchandises are exported at prices which are less under the prescript value in the country of export made. (GATT VI). In the absence of any domestic price for that product, then price of an analogous product for export to a third nation is employed. The margin of dumping is the glut of the normal price over the price at which the g ood is being dumped.In National Com Growers v. C.I.T1, Canadian courts were not reluctant in agreeing the levy of countervailing duties against imported subsidised agricultural products which resulted or likely to result in causing material damage to Canadian agricultural industry. (Baggaley 1998).The main civilise of Article VI of GATT is to offer a relief to importing member country where imported or dumped subsidised products scupper or create substantial injury to a recognised industry or substantially hinder the constitution or formation of a domestic industry.To claim a remedy under GATT VI, it is essential to make a complaint that there exists a predatory pricing, i.e. pricing a product with the aim of forcing out the competition in the market. Hence, if any domestic manufacturer wishes to invoke the provision of GATT VI, he has to demonstrate that it has been invoked to