Definition of Countervailing duty:
An import tax imposed on certain goods in order to prevent dumping or counter export subsidies.
Additional import duty imposed to offset the effect of concessions and subsidies granted by an exporting country to its exporters. Imposition of a countervailing duty is an attempt to bring the imported price to its true market price, and thus provides a level playing field to the importing countrys producers. See also anti-dumping duty.
How to use Countervailing duty in a sentence?
- It is complying with WTO rules on anti-dumping, subsidy and countervailing duties, and safeguard measures.
Meaning of Countervailing duty & Countervailing duty Definition