Trade sanctions on US approved
Fines will be imposed on products from sweetcorn to textiles
The World Trade Organisation (WTO) has given Europe, Japan and others the go-ahead to impose sanctions on a number of US companies dumping low-cost goods.
The sanctions are in retaliation for the Byrd Amendment, a rule that allows US firms to blow the whistle on "unfair" trade practices.
The $150m (£79m) in fines against the US could be imposed in early 2005.
Most of this will come from the EU and Japan, whose companies have been most affected by the Byrd Amendment.
Both have already presented the WTO with a list of products and goods they plan to hit, ranging from sweetcorn to metals to textiles.
http://news.bbc.co.uk/2/hi/business/4045979.stm
Fines will be imposed on products from sweetcorn to textiles
The World Trade Organisation (WTO) has given Europe, Japan and others the go-ahead to impose sanctions on a number of US companies dumping low-cost goods.
The sanctions are in retaliation for the Byrd Amendment, a rule that allows US firms to blow the whistle on "unfair" trade practices.
The $150m (£79m) in fines against the US could be imposed in early 2005.
Most of this will come from the EU and Japan, whose companies have been most affected by the Byrd Amendment.
Both have already presented the WTO with a list of products and goods they plan to hit, ranging from sweetcorn to metals to textiles.
http://news.bbc.co.uk/2/hi/business/4045979.stm
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