ABSTRACT
The main justification for anti-dumping and countervailing measures is that dumping and subsidisation represent forms of 'unfair trade'. Thus, the imposition of anti-dumping or countervailing measures is not protectionism but a legitimate means whereby countries can protect themselves from harmful trading practices adopted by other countries. Non-Tariff Protectionism - import quotas, voluntary export restraints, anti-dumping and countervailing duties, subsidies, other types of non-tariff protectionism. The spread of non-tariff protectionism in recent decades is sometimes referred to as the 'new protectionism. The effect is much the same as that of an import tariff, except that consumers enjoy paying a lower rather than a higher price. A tariff, which initially provided import protection for the home producer, has served also to promote the home producer's exports to the foreign market. Protection may take the form of imposing tariffs on imports or the creation of various kinds of non-tariff barriers.
