Evolution of United States Anti-Dumping Laws
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Can you describe the evolution of antidumping laws in the United States?
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Solution Summary
The solution reckons the evolution of anti-dumping laws in the United States. The following laws were discussed chronogically: Sherman Antitrust Act of 1890, The Wilson Tariff Act of 1894, United States Anti-dumping Act of 1916, and the
Anti-dumping Act of 1921.
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Sherman Antitrust Act of 1890
The Sherman Antitrust Act of 1890 declared illegal any effort to combine or conspire to monopolize a particular market.
The oldest of America's antitrust laws, the Sherman Antitrust Act was signed into law on July 2, 1890, by President Benjamin Harrison. The Sherman Antitrust Act was the first action taken by the federal government to place limits on business monopolies and cartels and to prevent restraints on trade, such as price fixing. Violations of the act were treated as misdemeanors. The Sherman Antitrust Act, written by the Republican senator John Sherman of Ohio, vested government attorneys and courts with both the authority and the responsibility to seek out and investigate suspected violators of the terms specified in the act. The original intention of the Sherman Antitrust Act was to protect consumers from big businesses that were using unscrupulous means to raise prices artificially, such as intentionally producing too few goods to meet consumer demand and thereby driving up the ...
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