NCIEC_Trade_Remedies - Overview of Trade Remedies in WTO...

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Overview of Overview of Trade Remedies in WTO System Trade Remedies in WTO System Antidumping, Subsidies, Safeguards Presented by Kenneth J. Pierce and Matthew R. Nicely for the Georgetown University Law Center NCIEC WTO Conference sponsored by the U.S. – Vietnam Trade Council 11 March 2004
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NCIEC WTO Conference March 11, 2004 2 Willkie Farr & Gallagher LLP New York-based law firm with more than 500 attorneys in offices around the world Washington DC office houses our international trade practice – one of the largest and most prominent in the United States Practice includes 18 lawyers and 5 trade analysts with decades of experience in the field Focus of practice is international trade remedies, particularly antidumping and countervailing duties and safeguard measures Our successes span all aspects of the litigation, from work before U.S. agencies to appeals before U.S. courts and the WTO Currently representing Vietnam in shrimp antidumping case Introduction to Willkie Farr & Gallagher
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NCIEC WTO Conference March 11, 2004 3 Willkie Farr & Gallagher LLP Agenda Agenda Introduction to trade remedies Safeguard Measures Anti-dumping Duties Countervailing Duties WTO Dispute Settlement
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NCIEC WTO Conference March 11, 2004 4 Willkie Farr & Gallagher LLP What are trade remedies? What are trade remedies? Permissible import restraints that otherwise would be contrary to WTO principles essentially, exceptions to the bedrock rules of binding tariffs and MFN (most favored nation) treatment Designed to allow relief from imports deemed “unfair,” or adjustment from a surge in imports often called the “safety valve” to allow further trade liberalization WTO identifies three primary types: safeguards (temporary relief from import surges) countervailing duties (counteracting subsidies) antidumping (counteracting unfairly low prices)
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NCIEC WTO Conference March 11, 2004 5 Willkie Farr & Gallagher LLP Historical Development Historical Development In early years, little attention paid to trade remedies original GATT: Article VI covered anti-dumping measures; Article XVI covered subsidy practices and Article XIX dealt with safeguards focus of GATT was reducing tariffs Over time, focus on trade remedy measures Kennedy Round (1969) produced first rules on antidumping duties; but only agreed to by a limited number of countries Tokyo Round (1979) expanded Anti-Dumping Code; produced Subsidies and Countervailing Duties Agreement, but did not really address substance of subsidy practices Uruguay Round produced first agreement on application of safeguard measures; addressed substance of subsidies
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NCIEC WTO Conference March 11, 2004 6 Willkie Farr & Gallagher LLP Frequency of Use Frequency of Use As tariffs are reduced or eliminated, more countries are invoking WTO trade remedies to assist domestic industries
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NCIEC_Trade_Remedies - Overview of Trade Remedies in WTO...

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