US hit by EU over anti-dumping

@andygogo (1580)
China
December 31, 2006 12:31am CST
US imports have been hit with a further $9.1m (£4.9m; 7.2m euros) in tariffs from the European Union for breaking World Trade Organisation rules. The move comes as the US continues to benefit from the Byrd amendment. The anti-dumping amendment lets US firms raise a levy from competitors' goods which it deems to be too cheap. The amendment was ruled illegal over a year ago and repealed in February, but US firms are expected to benefit from it for a further two years. Europeans paying more This latest penalty brings the total extra tariffs imposed upon the US to $36.9m. Peter Mandelson - the EU trade commissioner - has said that while the trade dispute has been resolved, US firms are still receiving payments. "As long as the distributions [of payments] continue, the US will not be in compliance with WTO rules", the Commission stated. The US was given until the end of 2003 to comply with a 2002 ruling by the WTO which ruled the Byrd amendment illegal. But the US failed to comply with the rule, allowing the EU as well as seven other countries - Brazil, Canada, Chile, India, Japan, Korea and Mexico - to fine the US. The levy has forced European consumers to pay a higher price for US clothing, textile, machinery, paper goods and sweetcorn than for non-US goods. Since the Byrd amendment was passed in 2000, manufacturers in the metals and food businesses among others, have been the recipients of billions of dollars in payments. *********************** Source: BBC Read More: Xinhua-EU extends trade sanctions on US imports Read More:Irish.Examiner.com-Europe slaps more trade sanctions on US Where the hell can we find the "freedom" of tade?
No responses