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| Europe |
| EU & others seek to punish US for punishing EU & others |
| 2005-03-31 |
| EFL The European Union head office said Thursday it will seek to impose additional sanctions of up to 15 percent on U.S. products to punish Washington for failing to repeal an antidumping law ruled illegal by the World Trade Organization. The law, known as the Byrd amendment, allows American companies to receive proceeds from antidumping duties levied on foreign rivals. It was approved in 2000 and in four annual distributions, over $1 billion has been distributed to such industries as steel and metal producers and food and household items. I'd be inclined to raise the anti-dumping duties by another 15%, but that's just me. |
| Posted by:Tom |
| #7 Carl and BigEd-Thanks. |
| Posted by: jules 2 2005-03-31 8:47:55 PM |
| #6 jules2: Foreign companies in certain industries are being fined by the US Trade Commission (? I may have the org name wrong), because they were considered to be "dumping" their goods (ie. selling below cost) in the US market. And part of the money received from the fine payments is being handed to the US companies. (Probably the plaintiffs in the original anti-dumping lawsuit, rather than every US company in the given industry, but I am not sure as I am not an informed expert on this). |
| Posted by: Carl in N.H. 2005-03-31 4:47:17 PM |
| #5 I have to say the EU is in the right on this matter. WTO allows anti-dumping levies, but giving the money to domestic producers is clearly a subsidy and IMO a dumb idea (pork barreling of the worst kind). Otherwise the EU is a major food exporter and has problems with over-production in many areas. There is no doubt they could be selfsufficient in food (excepting things like bananas). |
| Posted by: phil_b 2005-03-31 4:25:00 PM |
| #4 Related note: Washington State passed a multi-year tax break deal for aerospace companies to stay / relocate to the state; it was worded like that to woo Boeing and the 7E7 (now 787). Airbus is looking to build a plant in the US, presumably to build USAF tankers, and WA is in the running with 3 locations. The $64,000 question is; will EADS (Airbus) take the subsidies, or withdraw their complaint in the WTO regarding Boeing and subsidies?? Can't have it both ways and i cannot see them NOT taking any tax deals. |
| Posted by: USN, retired 2005-03-31 2:42:02 PM |
| #3 The EU's move would slap additional duties of up to 15 percent as of May 1 on such U.S. products as paper, textiles, machinery and farm produce. Raise the price of food to many countries who are net food importers... As I understand it, the ONLY net food exporters in the EU are Poland and the froggys... Though with the EU becoming a trading unit, it may be a wash... Where there is a swamp of legislation there are always frogs... Am I wrong? RB-folks please advise... |
| Posted by: BigEd 2005-03-31 1:29:53 PM |
| #2 The law, known as the Byrd amendment, allows American companies to receive proceeds from antidumping duties levied on foreign rivals. Plain English, please, and if you would, try to avoid using the same terminology as in the sentence-that won't make it easier to understand. |
| Posted by: jules2 2005-03-31 1:14:16 PM |
| #1 The law, known as the Byrd amendment, Sen. Byrd has half of West Virginia named after him; is he going for a world record or something? |
| Posted by: Raj 2005-03-31 1:11:16 PM |