Trade remedies constitute most of the cases at the World Trade Organisation (WTO) Dispute Settlement body. These are defence instruments that allow governments to take remedial action against imports causing material injury to a domestic industry.
Such remedies are divided broadly into anti-dumping measures/actions; countervailing duty measures/actions; and safeguard measures/actions.
These remedies are triggered in response to different situations and circumstances which may be causing material injury to a domestic industry. Recourse to these tools is initiated by the domestic industry in compliance with the rules and procedures provided under the WTO Law on Trade Remedies (Anti –Dumping Agreement, Agreement on Subsidies and Countervailing Measures and Safeguards Agreement). Read more. Source | Business Daily