CURRENT AFFAIRS

Detailed explanation-1: -optical fibre: India initiates anti-dumping probe against imports of optical fibre from China, Indonesia, Korea - The Economic Times.

Detailed explanation-2: -India on Tuesday imposed anti-dumping duty(23.06. 2020) on imports of certain type of steel products(Flat rolled product of steel, plated or coated with alloy of Aluminium and Zinc) from China, Vietnam and Korea for five years.

Detailed explanation-3: -For instance, it states that imported goods must not be subjected to internal taxes more than the costs imposed on domestic goods. It also requires that imported goods be treated the same way as domestic goods under domestic laws and regulations.

Detailed explanation-4: -An anti-dumping duty is a protectionist tariff that a domestic government imposes on foreign imports that it believes are priced below fair market value.

Detailed explanation-5: -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.