Tuesday, February 24, 2004
Yahoo! News - Brussels awaits WTO dumping ruling: "The European Union will learn on Tuesday whether it can retaliate against the US in a long-running trade dispute over antidumping law[s]
Brussels has asked the World Trade Organisation to sanction legislation that would drastically increase the pressure on US lawmakers to revoke the 1916 Antidumping Act.
The act allows US companies to claim damages from foreign companies found to have dumped their goods on the US market. It was ruled illegal by the WTO in September 2000, but so far the US Congress has failed to comply with the decision.
Should the WTO again side with the EU, Brussels would be free to to impose matching import duties on American companies that have benefited from the act. The proceeds would be passed on to their European counterparts.
Although legislation repealing the act was introduced last year, Brussels complains that the bill in the House of Representatives, which was approved by the House judiciary committee at the end of last month, does not terminate the pending court cases. "
Brussels has asked the World Trade Organisation to sanction legislation that would drastically increase the pressure on US lawmakers to revoke the 1916 Antidumping Act.
The act allows US companies to claim damages from foreign companies found to have dumped their goods on the US market. It was ruled illegal by the WTO in September 2000, but so far the US Congress has failed to comply with the decision.
Should the WTO again side with the EU, Brussels would be free to to impose matching import duties on American companies that have benefited from the act. The proceeds would be passed on to their European counterparts.
Although legislation repealing the act was introduced last year, Brussels complains that the bill in the House of Representatives, which was approved by the House judiciary committee at the end of last month, does not terminate the pending court cases. "
