WTO approves sanctions against the US
 

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

Serious question: Why is it so uncool for US firms to blow the whistle on "unfair" trade?

haha....

dman you most be kiddin'!

why would anybody care?

Maybe this will help...

" Under the Continued Dumping and Subsidy Offset Act of 28 October 2000, (also known as the Byrd amendment), the US government distributes the anti-dumping and anti-subsidies duties to the US companies that brought forward the cases. Offset payments are paid to cover certain expenses (such as investment in manufacturing facilities and acquisition of technology) incurred after the imposition of the anti-dumping and anti-subsidy measures for the production of the product subject to the measures. In the first annual distribution in January 2002, almost US $207 million were distributed, mostly to steel producers. More than US $270 million are available for distribution this year. "

http://www.eurunion.org/news/press/2003/2003003.htm

Is this Byrd as in that KKK prick Senator? :1orglaugh

Is this a form of paying companies for whistle blowing (which doesn't sound bad to me, sort of like offering reward money for those who help catch criminals) or is this an excuse to have more corporate welfare?

Watch out.. Japan is about to be 'liberated'

Regards,

Lee

It's amazing how nobody but the US ever does wrong...

:thumbsup