General Information about Trade Levies
The Trade Levies and Safeguard Measures Law, 5751-1991 addresses three types of trade levies:
Anti-dumping duty – a duty on dumped imports that cause material injury to a domestic industry.
Countervailing duty – a duty on exports (into Israel) subsidized by a foreign government.
Safeguard levy – imposed, inter alia, to safeguard the country’s balance of payments and its foreign currency reserves, to safeguard the agricultural industry and the country’s mined resources, or as an economic reciprocal action against a foreign country.
The Law also deals with safeguard measures intended to provide temporary protection to domestic industry in case of a quick increase in import or a change in import terms that may cause serious injury. Temporary protection is designed to provide a hiatus in which the domestic industry can become more efficient and prepare for imported competition.
The imposition of these levies and the safeguard measure is established in the WTO’s international agreements, and is subject to the limitations and terms specified in them. They are also subject to bilateral trade agreement between Israel and various countries.
The Commissioner of Trade Levies, a statutory appointment, is in charge of implementing the Law. In addition, a public committee advises the Minister of Economy and Industry about anti-dumping duties and countervailing duties. The orders and safeguard measures must be approved by the Minister of Finance and Knesset Finance Committee.
By Law, complaints are submitted for the investigation of the Trade Levies Commissioner. Complaints may be submitted by domestic manufacturers representing a domestic industry, against importers and foreign manufacturers, for importing a dumped or subsidized-price product or products that cause injury to domestic industry.
More related articles...
Wartime macroeconomics
A fresh supply shock stemming from the war in Ukraine will deal a blow to the economic recovery from COVID-19. The energy and food sectors
Services trade liberalised in 2021
OECD Services Trade Restrictiveness Index (STRI): Policy trends up to 2022 shows that liberalisation outpaced new restrictions during the past year, as the erection of new barriers
Economic and Social Impacts and Policy Implications of the War in Ukraine
The war Russia is waging in Ukraine is a humanitarian disaster. Beyond this, the economic damage is already being felt worldwide and risks becoming increasingly
International trade statistics: trends in fourth quarter 2021
https://www.unitedxp.co.il/wp-content/uploads/2022/03/יחדיו.mp4 Acceleration in merchandise trade bolsters recovery in G20 trade, but growth in services trade eases
Services trade liberalised in 2021, showing significant decrease in volume and effects of new measures, OECD says
OECD Services Trade Restrictiveness Index (STRI): Policy trends up to 2022 shows that liberalisation outpaced new restrictions during the past year, as the erection of new barriers to
Ashdod Port completed a significant phase in the 500 million shekel project to upgrade Platform 21
Ashdod Port is presently completing one of its more complex operational projects after extensive renovations on the western side of Platform 21.
