:: rawblogXport ::

:: Wednesday, September 08, 2004 ::

Trade ruling irks timber industry By TED MONOSON, Billings Gazette, MT
The international organization ruled on Tuesday that major U.S. trading partners could impose sanctions on the U.S. in response to a trade law that the organization had already ruled was illegal.

The law is commonly referred to as the Byrd Amendment, because it was authored by Sen. Robert Byrd, D-W.Va. Under the Byrd Amendment, the United States can impose fines on foreign companies that are selling their products below cost in the United States and then give a portion of that money to their U.S. competitors. For the Montana softwood lumber industry, that means they could receive a portion of the $2.6 billion in fines that Canadian companies have paid since 2002.

Sen. Max Baucus, D-Mont., said he was disappointed by the decision and promised to either defend the Byrd Amendment or work on a law that accomplishes the same goal without violating WTO regulations.

'This money is critically important - especially to Montana lumber companies - to level the playing field on the unfair practices of Canada and some of our other trading partners,' Baucus said in a statement.

posted 5:51 AM :: reference link :: 0 comments ::

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