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Bearings tariffs to be extended
11/08/2009 12:00
Japan said Friday it will extend the existing punitive tariffs it levies on U.S. bearings for another year from September, citing Washington's continued violation of World Trade Organization rules, the Finance Ministry said Friday.
The decision to extend tariffs was taken as a countermeasure against the U.S. government's ongoing practice of providing antidumping duties collected from companies based overseas to rival firms in the U.S. to cover losses from cheap imports, the ministry said.
The practice was first based on a U.S. antidumping law that was known as the Byrd Amendment. In 2003, the WTO ruled that the amendment contradicted WTO rules.
The U.S. repealed the amendment in 2006, but the practice has been continuing, according to the ministry.
Japan will extend the punitive tariffs on two types of bearings. The rate of punitive tariffs will be reduced to 9.6 percent from the current 10.6 percent, reflecting a decline in the amount of antidumping duties provided to U.S. firms in fiscal 2008, the ministry said. The calculation is in line with the WTO's decision. The government is expected to endorse extending the measure beyond its Aug. 31 expiry.
The decision to extend tariffs was taken as a countermeasure against the U.S. government's ongoing practice of providing antidumping duties collected from companies based overseas to rival firms in the U.S. to cover losses from cheap imports, the ministry said.
The practice was first based on a U.S. antidumping law that was known as the Byrd Amendment. In 2003, the WTO ruled that the amendment contradicted WTO rules.
The U.S. repealed the amendment in 2006, but the practice has been continuing, according to the ministry.
Japan will extend the punitive tariffs on two types of bearings. The rate of punitive tariffs will be reduced to 9.6 percent from the current 10.6 percent, reflecting a decline in the amount of antidumping duties provided to U.S. firms in fiscal 2008, the ministry said. The calculation is in line with the WTO's decision. The government is expected to endorse extending the measure beyond its Aug. 31 expiry.
Kyodo News
Saturday, Aug. 8, 2009
Saturday, Aug. 8, 2009
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