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Japan to remain countervailing duties on US products
18/06/2015 10:20
Recently, Japan decided to renew the application of countervailing duty of 15% for another year on US ball bearing and steel products. This move is considered as a retaliatory measure against the US’s application of anti-dumping duty, which goes counter to WTO’s regulations.
According to an official of Japan Ministry of Finance, Japanese Government will extend the application period of penalty duties until August 31, 2008. This decision will be approved by the Cabinet in the coming meeting at the end of this month.
At present, 15 products, including printers and aircraft spare parts from US are subject to a 15% duty imposed by Japan.
US’s anti dumping duties was objected by many other countries, particularly, EU recently also decided to apply countervailing duties on US products.
The US Anti dumping act, effective from 2000, stipulated the imposition of anti dumping duty on imported goods which is considered to be sold below normal price.
In January 2003, the World trade Organization issued official rule that this law goes counter with WTO’s regulations, hence requested US to immediately remove the anti dumping act.
In February 2006, the US decided to remove this law; however it will still be applicable in the transitional period until next October.
According to an official of Japan Ministry of Finance, Japanese Government will extend the application period of penalty duties until August 31, 2008. This decision will be approved by the Cabinet in the coming meeting at the end of this month.
At present, 15 products, including printers and aircraft spare parts from US are subject to a 15% duty imposed by Japan.
US’s anti dumping duties was objected by many other countries, particularly, EU recently also decided to apply countervailing duties on US products.
The US Anti dumping act, effective from 2000, stipulated the imposition of anti dumping duty on imported goods which is considered to be sold below normal price.
In January 2003, the World trade Organization issued official rule that this law goes counter with WTO’s regulations, hence requested US to immediately remove the anti dumping act.
In February 2006, the US decided to remove this law; however it will still be applicable in the transitional period until next October.
07/08/2007
Source: vinanet
Source: vinanet
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