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Anti-dumping bill passes first reading

NZ NewswireNZ Newswire 28/06/2016

Parliament is supporting a bill that will relax anti-dumping laws under certain circumstances.

Goods are considered dumped if the export price to New Zealand is less than the price they are sold for in their home market.

When that happens, duties or financial penalties are imposed on them.

Commerce Minister Paul Goldsmith says the bill will bring in a new consumer test to weigh the benefits of dumped products.

It allows a decision to be made about whether consumers would benefit from lower prices, more choice, availability and quality, and whether those benefits outweigh the impact on local industries.

The Anti-Dumping and Countervailing Duties Bill passed its first reading on Tuesday night, with only the Greens opposing it.

It has been sent to a select committee for public submissions.

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