An introduction to the Agreement on Subsidies and Countervailing Measures


Published by a ³ÉÈËÓ°Òô International Trade expert
Practice notes

An introduction to the Agreement on Subsidies and Countervailing Measures


Published by a ³ÉÈËÓ°Òô International Trade expert

Practice notes
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This Practice Note introduces the basic concepts of subsidisation and countervailing measures as contained in the WTO’s Subsidies and Countervailing Measures Agreement. It covers the main aspects relevant to subsidy matters, such as the determination of the like product, the domestic industry, what constitutes a subsidy, what is a prohibited subsidy, what is an actionable subsidy, the two different tracks to resolve subsidy issues, the affect that a subsidy must have to be actionable and the different countervailing duties that may be imposed.

Introduction

The General Agreement on Tariffs and Trade (GATT) 1947 contained several provisions dealing with subsidies. Article VI deals with countervailing duties to counter the effect of a subsidy. Article XVI GATT provided for certain disciplines on domestic subsidies as well as export subsidies. The disciplines as contained in the GATT 1947 were weak. This led to the negotiation and conclusion of the Agreement on Subsidies and Countervailing Measures (SCM Agreement) which came into force with the establishment of the World Trade Organization (WTO) on 1 January 1995.

The

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Jurisdiction(s):
United Kingdom
Key definition:
Loans definition
What does Loans mean?

occupational pension scheme resources may not at any time be invested in an employer-related loan. In accordance with section 40 of the Pensions Act 1995, employer-related loans are: loans to the employer or any such person; shares or other securities issued by the employer or by any person who is connected with, or an associate of, the employer; or employer-related investments eg a guarantee or security for obligations of the employer. This does not apply in respect of small self-administered schemes (SSASs) and self-invested pension plans (SIPPs).

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