1. Agreement on Safeguards: This agreement allows countries to impose safeguard measures, i.e., temporary restrictions on imports of a product, when domestic industry is injured or threatened with injury caused by a surge in imports. The measures are applied to all imports of a product irrespective of the source.

2. Anti-Dumping Agreement: This agreement allows countries to take action against dumping where a company exports a product at a price lower than the price it normally charges in its own home market. To do this, the country must be able to show that dumping is taking place, calculate the extent of dumping (how much lower the export price is compared to the exporter's home market price), and show that the dumping is causing injury to its own domestic industry.

3. Agreement on Subsidies and Countervailing Measures: This agreement regulates the provision of subsidies and the application of countervailing measures. It defines a subsidy and introduces the concept of a specific subsidy. It also sets forth detailed rules on the investigation and determination of the existence and effect of subsidies. If a country determines that a subsidy is causing adverse effects to its interests, it can take countervailing measures, i.e., it can increase the import duties to offset the amount of the subsidy.

Trade issues are addressed according to these agreements by providing a framework for countries to take action against practices that distort free trade. The agreements provide a set of rules and procedures for countries to follow when they believe that their domestic industries are being harmed by imports. They also provide a dispute resolution mechanism through the World Trade Organization, where countries can bring their trade disputes for resolution.

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1. Agreement on Safeguards: This agreement allows countries to impose safeguard measures, i.e., temporary restrictions on imports of a product, when domestic industry is injured or threatened with injury caused by a surge in imports. The measures are applied to all imports of a product irrespective of the source.

2. Anti-Dumping Agreement: This agreement allows countries to take action against dumping where a company exports a product at a price lower than the price it normally charges in its own home market. To do this, the country must be able to show that dumping is taking place, calculate the extent of dumping (how much lower the export price is compared to the exporter's home market price), and show that the dumping is causing injury to its own domestic industry.

3. Agreement on Subsidies and Countervailing Measures: This agreement regulates the provision of subsidies and the application of countervailing measures. It defines a subsidy and introduces the concept of a specific subsidy. It also sets forth detailed rules on the investigation and determination of the existence and effect of subsidies. If a country determines that a subsidy is causing adverse effects to its interests, it can take countervailing measures, i.e., it can increase the import duties to offset the amount of the subsidy.

Trade issues are addressed according to these agreements by providing a framework for countries to take action against practices that distort free trade. The agreements provide a set of rules and procedures for countries to follow when they believe that their domestic industries are being harmed by imports. They also provide a dispute resolution mechanism through the World Trade Organization, where countries can bring their trade disputes for resolution.

Knowee AI · Accepted Answer

1. Agreement on Safeguards: This agreement allows countries to impose safeguard measures, i.e., temporary restrictions on imports of a product, when domestic industry is injured or threatened with injury caused by a surge in imports. The measures are applied to all imports of a product irrespective of the source.

2. Anti-Dumping Agreement: This agreement allows countries to take action against dumping where a company exports a product at a price lower than the price it normally charges in its own home market. To do this, the country must be able to show that dumping is taking place, calculate the extent of dumping (how much lower the export price is compared to the exporter's home market price), and show that the dumping is causing injury to its own domestic industry.

3. Agreement on Subsidies and Countervailing Measures: This agreement regulates the provision of subsidies and the application of countervailing measures. It defines a subsidy and introduces the concept of a specific subsidy. It also sets forth detailed rules on the investigation and determination of the existence and effect of subsidies. If a country determines that a subsidy is causing adverse effects to its interests, it can take countervailing measures, i.e., it can increase the import duties to offset the amount of the subsidy.

Trade issues are addressed according to these agreements by providing a framework for countries to take action against practices that distort free trade. The agreements provide a set of rules and procedures for countries to follow when they believe that their domestic industries are being harmed by imports. They also provide a dispute resolution mechanism through the World Trade Organization, where countries can bring their trade disputes for resolution.

How does the Agreement on Safeguards differ from the Anti- dumping agreement and the Agreement on subsidies and countervailing measures? Explain how trade issues are addressed according to these agreements (10 marks)

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