In the idealised economic world in which economists usually begin their theoretical analyses, the first-best international policy for dealing with dumping is to eliminate the economic distortions that make dumping possible, e.g., tariffs, subsidies and monopoly power, and deal with relevant...

This paper first discusses four general developments in the world trading system that have made it increasingly difficult in recent years for nations to reach multilateral agreements aimed at further liberalising international trade, namely: (1) the increased technical complexity and disruptive...