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Agreement on Subsidies and Countervailing Measures Wiki

Agreement on Subsidies and Countervailing Measures (ASCM) is an important aspect of international trade. The agreement provides rules for subsidies and countervailing measures that affect trade among member countries of the World Trade Organization (WTO).

ASCM aims to ensure fair competition among trading partners by regulating the use of subsidies and countervailing measures. It lays out the framework for WTO members to investigate and take action against any unfair advantages that arise from the use of subsidies.

The agreement defines subsidies as financial contributions, such as grants, loans, and tax breaks, that are provided by a government or public body. It also includes the provision of goods and services, such as land, at reduced rates.

Countervailing measures refer to actions taken by a government to offset the negative effects of subsidies provided by another government. These measures may include imposing tariffs, duties, or quotas on imports that receive subsidized support.

The ASCM agreement requires member countries to notify the WTO of any subsidies they provide to their industries. This transparency allows other members to assess the impact of such subsidies on trade and, if necessary, take action to address any negative impact.

The agreement also sets out the rules for determining whether a subsidy has a negative impact on trade. If such an impact is found, the WTO member may authorize the imposition of countervailing measures.

The ASCM agreement serves an important role in ensuring fair competition among trading partners. It helps to prevent countries from gaining unfair trade advantages through the use of subsidies and countervailing measures.

In conclusion, the ASCM agreement is an essential part of international trade. It provides a framework for regulating subsidies and countervailing measures, ensuring fair competition among trading partners. By promoting transparency and accountability, the agreement helps prevent the negative impacts of unfair trade practices.