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Politics : The Castle
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To: TimF who started this subject1/16/2003 5:59:35 PM
From: TimF  Read Replies (1) of 7936
 
US Mulling How to Comply with Latest WTO Loss
Thu January 16, 2003 12:25 PM ET
WASHINGTON (Reuters) - The Bush administration said on Thursday it would work with Congress to bring the United States into compliance with a World Trade Organization ruling against a U.S. trade protection program.

The WTO appeals body ruled that United States is in violation of world trading rules with the so-called Byrd amendment that requires the Customs Service to distribute the anti-dumping duties it collects to the U.S. companies that complained of unfair trade practices.

While expressing its disappointment, the U.S. Trade Representative's office pledged to comply. It stopped short of saying it would seek a repeal of the trade program by Congress.

"We are reviewing the report to assess the best compliance options and will discuss these with the (House) Ways and Means Committee and the (Senate) Finance Committee and all other interested members of Congress," USTR said.

Congressional and industry sources have said they expect the Bush administration to propose a repeal of the Byrd amendment, named after its sponsor Sen. Robert Byrd, Democrat of West Virginia, in its upcoming 2004 budget.

USTR said the WTO ruling would not affect the United States' ability to impose duties on "unfairly" traded imports. Instead, it only affects how those funds are distributed.

Before the Byrd amendment was enacted in 2000, revenues raised by anti-dumping and countervailing duties went into the general treasury.

Allowing companies to collect those funds instead encourages them to seek duties more often, the EU and other trading partners said in the complaint they filed at the WTO. The U.S. trade protection program has paid out more than $500 million to American steel companies and other firms.

asia.reuters.com
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