Countervailing Duty (Noun)
Meaning
A duty imposed to offset subsidies by foreign governments.
Classification
Nouns denoting possession and transfer of possession.
Examples
- The government imposed a countervailing duty on imported steel to offset the subsidies provided by the foreign government to its steel industry.
- The company argued that the countervailing duty imposed on their products was unfair and would harm their business.
- The trade agreement allowed for the imposition of a countervailing duty to protect domestic industries from subsidized imports.
- The country's decision to impose a countervailing duty on solar panels was met with opposition from environmental groups.
- The World Trade Organization ruled that the countervailing duty imposed by the country on imported aircraft was in violation of international trade rules.