socialmedian: Cheaponsale com Reports Japan Extends Punitive Tariffs On U S Bearings Through 2010

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Cheaponsale com Reports Japan Extends Punitive Tariffs On U S Bearings Through 2010

Submitted by Motown Terri from blog

Nov 07, 2009

Summary

Author : Tian Li

Japan has notified the World Trade Organization that it will continue to apply punitive tariffs on ball and roller bearings from the United States, at least through September 2010

Japan's Ministry of Finance issued a statement saying the U S has failed to live up to its obligations under WTO rulings against the Continued Dumping and Subsidy Offset Act of 2000 (CDSOA), otherwise known as the Byrd Amendment

The CDSOA instructed Customs to collect antidumping duties, and then award them back out to domestic U S producers of those items U S ball and roller bearing manufacturers have been by far the largest beneficiaries of CDSOA payouts, running into the hundreds of millions of dollars in several cases

Controversial from the beginning, the WTO repeatedly ruled the CDSOA 5251R9N7 violated various trade rules and laws -- but it took a recalcitrant U S Congress until 2006 to repeal the law

Because the CDSOA and its implementation became wildly and unpredictably complex, and because billions of dollars are at stake for those who can get in line t ...Read the full article

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