Friday, February 24, 2012
India joins against ‘zeroing’
Another like minded group is emerging within the WTO. This time it is against legitimizing the practice of ‘zeroing’. India and fifteen others have joined forces to defeat an attempt made by the World Trade Organisation (WTO)'s committee on rules to legitimize a process called zeroing. The practice of zeroing will allow the US to impose high anti-dumping duties on other countries. Many LDCs argue that zeroing will ignite neo-protectionism. The countries against this practice submitted a joint representation to the WTO. The coalition against the zeroing includes Brazil, China, Japan, Hong Kong, New Zealand, Norway etc.