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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: Knighty Tin who wrote (11308)	9/2/2004 12:10:01 PM
From: mishedlo	Read Replies (1) of 116555

Japan Joins EU in bitching about Byrd Ammendment Japan threatens to retaliate in WTO trade dispute with US Wednesday, September 1, 2004 4:29:12 PM TOKYO (AFX) - Japan threatened sanctions against the US before the year's end after getting the green light from the WTO unless the US repeals a controversial anti-dumping law Japan said it would act as early as "this autumn" if the US did not repeal anti-dumping legislation known as the Byrd amendment, the foreign ministry said in a statement "Japan appreciates the decision because it gave the green light for Japan to take retaliatory measures of up to 78 million dollars per annum," it said The WTO ruled yesterday that seven nations and the EU could levy sanctions amounting to 72 pct of the sums reaped by US firms from the offending legislation The Oct 2002 law allowed payouts to US companies that complained of unfairly cheap foreign imports to the tune of 561 mln usd in 2001 and 2002 The US said after the ruling it would work with Congress to modify the law but would remain vigilant against unfairly subsidized trade

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