Tuesday, August 15, 2006
WTO Faults U.S. Lumber Duties on Canadian Imports
No, it's not about metal stamping, but I have been following the softwood lumber trade dispute for some time now, because I think it's symptomatic of the way trade disputes in general (including steel and ball bearings) have been dealt with in the last few years.
The World Trade Organization's highest judges ruled U.S. tariffs on Canadian lumber imports violate trade rules, reversing a decision last year and opening the door to possible sanctions worth C$4.25 billion ($3.78 billion).
The ruling undoes the WTO's rejection of a Canadian complaint in November, when arbitrators found the U.S. had complied with earlier rulings on the issue. The WTO now says the U.S. illegally excluded some price data from its calculations when it determined there was a threat to the U.S. lumber industry from cheaper Canadian imports.
The World Trade Organization's highest judges ruled U.S. tariffs on Canadian lumber imports violate trade rules, reversing a decision last year and opening the door to possible sanctions worth C$4.25 billion ($3.78 billion).
The ruling undoes the WTO's rejection of a Canadian complaint in November, when arbitrators found the U.S. had complied with earlier rulings on the issue. The WTO now says the U.S. illegally excluded some price data from its calculations when it determined there was a threat to the U.S. lumber industry from cheaper Canadian imports.
