CURRENT AFFAIRS

Detailed explanation-1: -India extends anti-dumping duty on imports of Fluoroelastomers from China. The Board said that the decision has been taken after the Directorate General of Trade Remedies (DGTR) requested for further extension of the anti-dumping duty on the goods originating in or exported from China.

Detailed explanation-2: -Anti dumping and anti subsidy duties are levied against exporter / country inasmuch as they are country specific and exporter specific as against the customs duties which are general and universally applicable to all imports irrespective of the country of origin and the exporter.

Detailed explanation-3: -The recommended duty ranges from USD 114 per tonne to USD 3, 801 per tonne as per the notification released in September. World Trade Organisation (WTO) rules permit the imposition of anti-dumping duties. India and China are both members of this multilateral organisation based in Geneva.

Detailed explanation-4: -Anti-Dumping and Countervailing Duties are extra import duties imposed on goods in addition to the normal duties that apply. These duties apply to imported goods that are sold in the European Union (EU) at prices substantially lower than their normal value.