Define "anti-dumping duties."

Anti-dumping duties are tariffs imposed by a country to protect its domestic industries from foreign companies selling products at prices lower than their production costs or below the price in their home market. This practice, known as "dumping," can undermine local businesses and disrupt fair competition. By imposing these duties, governments aim to level the playing field, ensuring that domestic products can compete effectively against imported goods that are being sold at artificially low prices. Such duties are typically calculated based on the difference between the fair market value of the product and the price at which it is being sold in the importing country. This mechanism helps safeguard domestic producers from predatory pricing practices that can lead to significant economic harm.