Wednesday, December 22, 2004
Canada, EU band together against U.S. steel policy
Chicago Sun-Times: Canada and the European Union said Tuesday they will cooperate to maximize the effect of sanctions they plan to impose on the United States in retaliation for U.S. steel industry protection measures.
The WTO gave the go-ahead for the EU, Canada and six other complainants to introduce sanctions after Washington failed to repeal a 2000 law [ed. note: the Continued Dumping and Subsidy Offset Act of 2000, commonly called the Byrd Amendment (google search)] that allows American companies to receive proceeds from duties levied by the U.S. government on foreign products allegedly sold at below-market prices in the United States.
The U.S. steel industry has been the major beneficiary of the law.
The WTO gave the go-ahead for the EU, Canada and six other complainants to introduce sanctions after Washington failed to repeal a 2000 law [ed. note: the Continued Dumping and Subsidy Offset Act of 2000, commonly called the Byrd Amendment (google search)] that allows American companies to receive proceeds from duties levied by the U.S. government on foreign products allegedly sold at below-market prices in the United States.
The U.S. steel industry has been the major beneficiary of the law.
