WTO okays sanctions on US in dumping row

The European Union and its allies got the go ahead on Tuesday to slap potentially heavy sanctions on US goods in a row that could stir trade...

The European Union and its allies got the go ahead on Tuesday to slap potentially heavy sanctions on US goods in a row that could stir trade tensions ahead of the US elections.

Diplomats said World Trade Organisation (WTO) arbitrators backed the EU and seven other WTO members in their demand for sanctions after the US failed to remove an anti-dumping law — the so-called Byrd amendment — repeatedly declared illegal by the WTO.

‘‘We have won because the US had argued against sanctions because they said there was no impact on trade from the (Byrd) measure,’’ said one diplomat from a country involved in the dispute. WTO arbitrators set no fixed amount for the retaliation but laid down a formula which countries could apply.

The Byrd measure obliges the US to distribute money raised in anti-dumping duties imposed on foreign corporations accused of selling below the cost price to the US firms. (Reuters)

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