:: rawblogXport ::

:: Wednesday, December 28, 2005 ::

Bidding a happy farewell to the Byrd amendment - Editorial, The Globe and Mail
That would mark a huge step toward U.S. trade civility -- even if the repeal does not take effect until October, 2007 -- because the Byrd amendment is such an extraordinary violation of trade norms. Sponsored by West Virginia Senator Robert Byrd and officially adopted in October, 2000, it allows companies that complain about unfair subsidies or dumping to receive a share of the penalties imposed on competing imports if their complaints are upheld. For Canadian firms, especially softwood lumber companies, it has been a huge provocation. Since 2002, the U.S. government has collected more than $5-billion (Canadian) in duties on their products, and the ferocious U.S. softwood lumber lobby could collect some of that boodle. For many U.S. companies, in turn, it has become an offer they cannot refuse: Their competitors face stiff import duties, and they themselves can eventually split a large portion of the U.S. Treasury's take.

posted 9:35 AM :: reference link :: 0 comments ::

-------------------------------------------