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USA:WTO for retaliatory tariffs on US |
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2004-12-3
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Day after the news about World Trade Organization (WTO) authorizing European Union, Japan, Canada, Mexico, Korea, India, Mexico and Brazil to impose retaliatory tariffs on US apparels and textile products, has drawn cautious remarks from US apparel manufacturers and exporters.
Approximately $150 million worth sanctions are involved if the U.S. does not immediately repeal the Byrd amendment deemed to be illegal by the WTO.
Byrd levies dumping and anti-subsidy duties on foreign companies perceived to be selling goods below cost and then distributes the proceeds to the U.S. companies affected.
Earlier, 65 textile, apparel and footwear items were being targeted by the EU for sanctions which include cashmere and synthetic sweaters, wool coats and jackets, knit shirts and silk dresses.
While Japan estimates $78 million worth punitive duties to be imposed against U.S. goods for in damages, the EU places entitlement to the tune of about $50 million in retaliatory tariffs.
“The cumulative effect of all of this is to basically discourage companies to produce here and export there,” said Steve Lamar, senior vice-president of the American Apparel and Footwear Association.
“We should be looking for additional reasons to promote products in the U.S. but what this does is send exactly the opposite message.”
Notably, after a long drawn dispute with the EU at the WTO, President Bush had signed legislation end of October to repeal an export subsidy violating fair competition rules according to them. |
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