Anti-Dumping Duty

 North Sea Incident

A fuel tanker carrying fuel for the U.S. military collided with a cargo ship and caught fire in the North Sea off the coast of Britain.

About the North Sea:

• Location: A shallow, enclosed sea in Northwestern Europe.
• Key Waterway: The Kiel Canal, one of the world's busiest artificial waterways, connects the North Sea to the Baltic Sea.
• Bordering Countries: United Kingdom, Norway, Denmark, Germany, the Netherlands, Belgium, and France.
• Rivers: Elbe, Weser, Rhine, Thames, among others.
• Major Ports: Hamburg and Rotterdam.
• Brent Crude: A type of oil from the North Sea that serves as a global benchmark for oil prices.

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Anti-Dumping Duty

India has recently imposed an anti-dumping duty on water treatment chemicals imported from China and Japan.

About Anti-Dumping Duty (ADD):

• Dumping: The practice of exporting goods at prices lower than their domestic market value to gain market share in the global market.
• Definition: Anti-dumping duties are taxes placed on imported goods to counteract unfair pricing practices (dumping), thereby protecting local producers from harm caused by goods sold below their normal market value.
• Anti-dumping duties are governed by Article VI of the General Agreement on Tariffs and Trade (GATT), 1994.
• The Directorate General of Trade Remedies (DGTR) within the Ministry of Commerce recommends the duty, while the Ministry of Finance enforces it.

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