U.S. Ends Spat With EU, Japan Over Dumping
GENEVA (AP) — The United States has ended a nine-year spat with the European Union and Japan over the way Washington imposes anti-dumping charges on foreign goods.
U.S. trade officials say under a deal signed Monday in Geneva the U.S. will bring the way it determines tariffs on goods exported at below-market price into line with World Trade Organization rules.
WTO panels had in the past concluded that a U.S. practice known as 'zeroing' breached international trade agreements, opening the way for the EU and Japan to impose hundreds of millions of dollars in trade retaliation.
U.S. Trade Representative Ron Kirk said the resolution of the long-running dispute would allow the U.S. to focus on other more pressing trade issues.