Tuesday, August 02, 2005

Japan declares US trade war

Japan will impose its first-ever retaliatory trade sanctions against the US on 15 goods including steel over a controversial US anti-dumping law, the trade ministry said today.
Japan is the latest major US trading partner to impose sanctions to protest the US anti-dumping law.
The Japanese tariffs, set at 15 per cent from September 1, are in line with similar moves by Canada and the European Union against the so-called Byrd Amendment.
The law enacted in 2000 redistributes US levies on dumping -- the selling of items abroad at lower prices than in the domestic market -- to the US companies that complained. Critics says this puts exporters to the United States at a disadvantage.

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