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? Countervailing Duty ? Section 301 ? Escape Clause免責(zé)條款;例外條款 10 Dumping Selling a product below a fair market value: a. Homecountry price b. 3rd country price c. Constructed price: Production cost plus at least 10% general expenses plus at least 8 % profits 1. Why do firms “dump”? 2. Is dumping predatory? [39。p230。weiv?]豁免 for Special Situations Balanceofpayments difficulties Regional trading arrangements Developing countries Generalized System of Preferences (GSP) Trade in specific industries (agriculture and textiles) 4 B. GATT Rounds ? The Kennedy Round (196467) – GATT members agree to cut tariffs by 35%. – US tariff rates down to %. ? The Tokyo Round (19741979) – Average tariff to % – Attempts to eliminate nontariff barriers – Sp