DAY - 109 | External Sector: BOP Account, Current & Capital | UPSC SCE | Adil Baig

[@Rathikaruppasamy]

@CuriousAdil sir, economics optional edukka iyaluma sir

[@speakwithmind2191]

First comment ❤🎉

[@gowsalyadhanaraj5826]

Sir can u explain what is Anti- dumping, protective, safeguard and countervailing duties with simple terms and examples sir I've read but couldn't able to understand sir

[@sakthinkumars]

1. Anti-Dumping Duty Purpose: To stop foreign goods from being sold too cheap in your country. Example: If China sells cheap shoes in India below cost, India adds extra tax to protect local shoe makers. 2. Protective Duty Purpose: To protect local businesses from foreign competition by making imports more expensive. Example: If cheap rice from other countries harms local farmers, the government adds tax to make imported rice costlier. 3. Safeguard Duty Purpose: To protect local businesses from a sudden increase in imports. Example: If too many cars are imported suddenly, a safeguard duty can temporarily raise the price of foreign cars to protect local makers. 4. Countervailing Duty Purpose: To counteract unfair foreign subsidies that help their goods sell cheaper. Example: If the government in another country gives money to car manufacturers, countervailing duty raises prices to protect local businesses.

[@gowsalyadhanaraj5826]

@sakthinkumars Thank you for the explanation, clearly understood..