Abstract

Dumping can be defined as exporting goods at prices below those charged on the domestic market or at prices insufficient to recover the cost of the goods sold. Dumping is considered an unfair trading practice because it interferes with free market economy principles. During the 1980s, anti-dumping measures were an important issue for a few developed countries that had attractive markets for foreign producers; these countries were the United States, the European Community, Canada, and Australia. The European Community (EC) has developed its own anti-dumping laws over the years; Article 113 of the EEC Treaty gives power to Community institutions to take action against dumped products from third countries. This EEC regulation was first adopted in 1968, and amended several times until 1994. In 1994, the United States and 110 other countries signed the Final Act Embodying the Results of the Uruguay Round of Multilateral Trade Negotiations. One of the multilateral agreements under the Uruguay Round is a new anti-dumping code. In response to this new code, the EC Council adopted a new EC anti-dumping regulation which implemented the Uruguay Round anti-dumping agreement. This paper examines the relevant issues in past EC anti-dumping proceedings, and compares past practice with the revised rules in the new regulation. Furthermore, this paper addresses the degree of conformity of the new EC regulation with the Uruguay Round Agreements Act.