On
February 6, U.S. Trade Representative Ron Kirk announced that the
United States signed agreements with the European Union (EU) and Japan
that will bring to an end longstanding disputes over "zeroing." Zeroing
refers to a methodology employed in antidumping calculations for
aggregating unfairly-traded ("dumped") transactions with other
transactions. The World Trade Organization ruled against the United
States in favor of the EU for the first time in 2006, and for Japan in
2007.
Ambassador Kirk said in a statement:
"What this means for the American people and the country as a whole is
that American farmers and businesses can invest in job-creating export
markets without the uncertainty of possible trade retaliation." Under
the agreement, the United States will complete the process - which began
in December 2010 - of ending the zeroing practices found in these
disputes to be inconsistent with WTO rules. In return, the EU and Japan
will drop their claims for trade retaliation.
For details, please
contact Christopher Wenk, Senior Director for International Policy (cwenk@uschamber.com).
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