A growing number of people are learning that "fair trade" laws are among the most troublesome American barriers to imports. This very valuable book provides a great deal of information about the multifaceted problems of coping with foreign dumping and subsidies. It clarifies many arcane subjects, including the choice of prices, the estimation of costs, the impact of exchange rates and the elaborate make-believe of "constructed value" and "surrogate countries." With one major exception the lawyers and economists who have written these papers are very critical of the way the Department of Commerce administers the fair-trade laws and believe that, while there is not much political interference in individual cases, the investigations are "tilted systematically against importers."
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