ContractChapter 10 Subsidies • December 10th, 2008
The Agreement on Subsidies and Countervailing Measures (ASCM) governs the use of subsidies and regulates the actions that countries can take to counter their trade impact. The ASCM builds on the Tokyo Round subsidy code (issued in 1979) but takes the important step of defining what a subsidy is, making it the first inter- national agreement on acceptable levels of government support for production and trade.
