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Subsidies and countervailing measures, with a note on agriculture

In: The Law and Economics of International Trade Agreements

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Abstract

This chapter concerns the law and economics of international rules restricting the use of subsidies, and the use of countervailing duties in response to subsidized imports. It provides a critical examination of the concept of “subsidy” under international law, highlighting numerous economic and practical difficulties in its interpretation and implementation. It further considers the “red light, yellow light, green light” approach to subsidies under WTO law, and critiques the economic foundation for the red-light category of prohibited subsidies. It discusses the negotiated bindings on subsidies in the WTO Agriculture Agreement, and contrasts the rules of general applicability found in the WTO Agreement on Subsidies and Countervailing Measures.

Suggested Citation

  • ., 2023. "Subsidies and countervailing measures, with a note on agriculture," Chapters, in: The Law and Economics of International Trade Agreements, chapter 13, pages 355-406, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:21398_13
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