Dumping (I) No prohibition: generic condemnation. Anti-Dumping Agreement. No duty of enacting anti-dumping legislation and adopting anti-dumping measures. Definition of dumping: 3 elements

Dumping (II) A) the normal value of the product exceeds the export price. Normal value = the comparable price, in the ordinary course of trade, for the like product when destined for consumption in the exporting country. Alternative rules. Fair comparison between normal value and export price: due allowance for differences Calculation of margin dumping (zeroing).

Dumping (III) B) there is an injury or a threat of material injury or a retardation of domestic production. Notion of domestic industry: related producers. Positive evidence. Objective determination.

Dumping (IV) C) a causal link between dumping and injury to domestic production exists. Non-attribution requirement.

Dumping (V) In case of dumping the Members may conduct an investigation under the WTO rules (about initiation, conduct and duration) and adopt provisional measures, price undertakings or anti-dumping duties

Subsidies No clear rules and no prohibition in GATT 1947 (notification and negotiation about limiting subsidies). Tokyo Round Subsidies Code. Revision of articles VI and XVI of GATT Negotiation of the SCM Agreement.

Subsidies (II) Definition: financial contribution by a government or any public body conferring a benefit to specific enterprises,industries, regions or productions.

Subsidies (III) Financial contribution: broad notion. 1)Direct transfer of funds; 2)Indirect transfer of funds (loan guarantees); 3)Government revenue, otherwise due, foregone or not collected; 4)The purchase by a government of goods; 5)The provision by a government of goods and services; 6)Government payment to a funding mechanism.

Subsidies (IV) Contribution by a government or public body: broad notion. Publicly owned companies. Benefit for the recipient = if the terms of financial contribution are more favourable than those available for other recipients in the market (loan guarantees, provision of goods or services, etc.).

Subsidies (V) Specificity: a measure is a subsidy if it is targeted to an enterprise, an industry or a group of enterprises (e.g. regional subsidies). De facto specific subsidies.

Subsidies (VI) 1)prohibited subsidies  export subsidies or subsidies upon the use of domestic over imported products. Multilateral remedies according to article 4 of the SCM Agreement. Establishment of a panel. Reduced timeframes. Withdrawal of the measure: otherwise, appropriate countermeasures.

Subsidies (VII) 2) actionable subsidies  subsidies that can cause adverse effects to the interest of other Members. Like products (=Articles I and III GATT) Domestic industry (= Article 16 of the Anti- Dumping Agreement) Injury, threat of material injury, material retardation. Causal link.