Japan may impose duties on U.S. steel and ball bearing
Resource from: CBCC Likes:2941
Jul 29,2005
TOKYO, July 28 (Reuters) - Japan is considering imposing retaliatory duties worth about $76 million on U.S. steel and other goods by September to counter subsidies paid by Washington to companies under an anti-dumping programme ruled illgal by the World Trade Organisation, Japanese media reported on Thursday.
It would be a first for Tokyo to impose retaliatory duties.
Tokyo is considering duties on U.S. steel and ball bearing products, the Nihon Keizai Shimbun business daily reported.
Using a 15 percent levy as a starting point, varying rates will be applied to ball bearing and other product categories, it said.
Japanese government officials were not immediately available for comment on the report, which was also carried by public broadcaster NHK.
Tokyo plans to keep the levies in place until the so-called Byrd amendment is repealed.
The United States has paid out more than $1 billion to U.S. ball bearing, steel, seafood, pasta, candle and other companies under the Continued Dumping and Subsidy Offset Act of 2000 -- otherwise known as the Byrd amendment after one of its chief sponsors, Sen. Robert Byrd, a West Virginia Democrat.
he programme distributes money raised by duties on imports the United States has determined are subsidised or unfairly priced to companies that sought the protection.
Previously, those funds went into the general U.S. treasury.
In June, Washington began steps to pay hundreds of millions of dollars in new subsidies under the amendment.
The WTO has declared the programme to be illegal in a challenge brought by the EU, Canada, Japan and other trading partners.
Brussels has imposed about $28 million in retaliatory duties on U.S. paper, clothing, fabrics, footwear and machinery, and Ottawa has imposed $14 million worth of similar duties on U.S. cigarettes, oysters and live swine.
In June, Tokyo called on Washington to repeal the Byrd amendment by the end of July.
The Bush administration has repeatedly proposed repealing the Byrd amendment, but it remains popular with many members of Congress despite the WTO ruling.
()
【CBCC News Statement】
1.The news above mentioned with detailed source are from internet.We are trying our best to assure they are accurate ,timely and safe so as to let bearing users and sellers read more related info.However, it doesn't mean we agree with any point of view referred in above contents and we are not responsible for the authenticity. If you want to publish the news,please note the source and you will be legally responsible for the news published.
2.All news edited and translated by us are specially noted the source"CBCC".
3.For investors,please be cautious for all news.We don't bear any damage brought by late and inaccurate news.
4.If the news we published involves copyright of yours,just let us know.
BRIEF INTRODUCTION
Cnbearing is the No.1 bearing inquiry system and information service in China, dedicated to helping all bearing users and sellers throughout the world.
Cnbearing is supported by China National Bearing Industry Association, whose operation online is charged by China Bearing Unisun Tech. Co., Ltd.
China Bearing Unisun Tech. Co., Ltd owns all the rights. Since 2000, over 3,000 companies have been registered and enjoyed the company' s complete skillful service, which ranking many aspects in bearing industry at home and abroad with the most authority practical devices in China.
