Introduction

The World Trade Organization’s (WTO) Agreement on the Implementation of Article VI of the General Agreement on Tariffs and Trade 1994 (the Anti-dumping Agreement) states that a product is dumped if the export price is less than the normal value. Thus, in the ordinary course of trade, the export price must be less than the normal value.

It is therefore of vital importance that both the normal value and the export price of the specific product (referred to as the like product) are determined in order to evaluate if dumping in fact occurred. Usually, investigating authorities first determine the normal value of the like product. Indeed, Article 2 of the Anti-dumping Agreement also firstly deals with the determination of the normal value before it deals with the determination of the export price. For more guidance on dumping, the Anti-dumping Agreement and the like product, see Practice