zero-for-zero approach
proposition zéro pour zéro
propuesta “cero por cero”

An request / offer approach to negotiating industrial tariffs aimed at eliminating tariffs on a reciprocal basis. The “zero-for-zero” was adopted during the Uruguay Round to eliminate tariffs in highly traded sectors such as wood and wood products, pharmaceuticals, toys, etc. This approach was followed in the Information Technology Agreement negotiations.

(See also: harmonisation; sectoral approach)

[Market Access; Negotiations]

zeroing
réduction à zéro
reducción a cero

Methodology used in calculating a dumping margin through selective comparisons between export and domestic sales transactions. Dumping calculations compare an average of sales in the product’s country of origin (normal value) with those of the same product sold in the export market (export price). Where the normal value exceeds the export price, the difference is levied as a dumping duty. Authorities employing zeroing ignore those instances where the export price is equal to or exceeds the normal value, setting those values at zero in the calculation. Therefore, only dumped sales are counted and margins are not offset by instances where dumping does not occur. It is claimed that the practice of zeroing leads to overstated dumping margins. Zeroing has been ruled inconsistent with WTO obligations.

(See also: anti-dumping; contructed value; export price; normal value)