Competition. Methods for protecting the domestic market from foreign competition (the most important)

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Competition. Methods for protecting the domestic market from foreign competition (the most important)

Lecture notes, cheat sheets

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39. Methods for protecting the domestic market from foreign competition

Ensuring normal conditions for competition in international trade is an extremely important issue for most countries. In the last decade, many governments have wanted to protect their national industries with protectionist trade policies. Currently, rules for the protection of domestic markets are contained in the WTO agreements and are largely based on agreements reached in the previous period under the GATT.

Main WTO agreements:

1. Agreement on the application of Art. VIGATT-94 (anti-dumping procedures);

2. Agreement on subsidies and compensatory measures;

3. Safeguard agreement.

For all types of protective measures, it is very important that they can be introduced by importing countries only if it is proved that the import of goods causes or threatens to harm the domestic industry and there is a causal relationship between the damage and the import.

In this case, antidumping measures applied by the importing country when the export price of a good is below its normal value.

Compensatory measures with regard to imported goods, they are applied when importing goods subsidized by the state that produces or exports this product.

Special Measures (in the form of increased duties) are applied in case of massive imports of any goods.

In accordance with the rules of the WTO, member countries of this organization can use protective measures to protect specific sectors of the national economy from growing imports that cause or may cause serious damage to their industry.

Industries and individual companies may approach their governments with proposals for protective measures to be applied only to the extent necessary to prevent or remedy serious harm to them and to facilitate their restructuring. Serious damage is determined on the basis of objective and quantifiable factors, such as import growth, changes in sales, production, productivity, profitability, capacity utilization, employment, etc. A causal relationship must be established between the increase in imports and serious damage.

The duration of safeguard measures should not exceed four years, although they may be extended up to eight years, provided that the competent national authorities conclude that such a measure is necessary, given evidence of an ongoing restructuring of the industry. Measures that are in use for more than one year are subject to gradual liberalization.

Author: Ilyina V.N.

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