In 1997, Russia and Ukraine exported carbon steel plate into Canada at a price much lower than the countries charged for the identical steel in their home markets. Russia and Ukraine were engaged in which of the following activities?

Question

Quizplus · Accepted Answer

The given scenario depicts the act of dumping, which refers to the practice of exporting goods at a price lower than their domestic market price. This practice is generally considered unfair as it displaces domestic producers and distorts the domestic market. Hence, option B is the correct choice. Option A, add-on pricing, refers to adding additional charges to the base price of a product, which is unrelated to this scenario. Option C, unloading, is not a term used in the context of international trade. Option D, export pricing, generally refers to setting a price for goods specifically for export, but it does not necessarily imply lower pricing than the domestic market, and hence, it is not the most suitable option in this case.

In 1997, Russia and Ukraine Exported Carbon Steel Plate into Canada