With the increasing integration of the major economies of the
world, trade frictions have also increased. The Uruguay Round of
multilateral trade negotiations, once scheduled for completion in
December 1990, has been slowed over the issue of agricultural
subsidies. The U.S.-Japanese trade relations have continued to be a
source of friction between the two countries. At issue in all these
disputes is whether the United States and other countries are
playing ""fairly"" in the international trade arena.The General
Agreement on Tariffs and Trade (GATT) outlines a variety of rules
designed to ensure fairness. The United States, like other GATT
signatories, has enacted statutes designed, for the most part, to
be consistent with the GATT requirements. In this book, Richard
Boltuck and Robert E. Litan, joined by a team of attorneys and
economists with direct experience in ""unfair trade"" practice
investigations, provide the first study of how one of the U.S.
governmental agencies charged with implementing the U.S. laws
governing unfair trade the Department of Commerce has actually
discharged its statutory mission. In particular, the book focuses
on the antidumping and countervailing duty statutes, provisions
allowing the United States to impose offsetting duties on imports
that are sold here at prices below those charged by the producers
in their home countries that benefit from subsidies provided by
foreign governments to encourage exports. Although these provisions
may have once been obscure parts of the U.S. trade laws, they have
figured importantly in many recent celebrated trade disputes,
including those involving the import of foreign-made
semiconductors, steel, lumber, screen displays for laptop
computers, word processors, and minivan vehicles. All but one of
the authors in the volume are highly critical of the procedures
used by the Department of Commerce to calculate margins of dumping
and export subsidization. Specifically, they find that at many
points in the investigations, both through substantive and
procedural requirements, there is a bias toward higher margins, and
therefore higher import duties, than is warranted by economic
theory; and in some cases by the GATT antidumping and subsidy codes
themselves. Significantly, these authors contend that most of the
biases can be removed without legislative change, but rather
through changes in administrative practice.
General
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