Antidumping duties on EC steel products draw criticism.The U.S. Department of Commerce said it would impose antidumping an·ti·dump·ing adj. Intended to discourage importation and sale of foreign-made goods at prices substantially below domestic prices for the same items. duties of 0.5% to 109% on steel products imported from 20 countries, including 7 in the European Community European Community: see European Union. European Community (EC) Organization formed in 1967 with the merger of the European Economic Community, European Coal and Steel Community, and European Atomic Energy Community. . EC representatives attributed problems in the U.S. steel industry largely to domestic competition and said EC exporters voluntarily had restrained steel exports to the United States for 10 years. At the European Community's request, the General Agreement on Tariffs and Trade General Agreement on Tariffs and Trade (GATT), former specialized agency of the United Nations. It was established in 1948 as an interim measure pending the creation of the International Trade Organization. (GATT See General Agreement on Tariffs and Trade. GATT See General Agreement on Tariffs and Trade (GATT). ) established a dispute-settlement panel to investigate the matter. GATT Director General Peter Sutherland called the U.S. action an aggravation to the Uruguay Round of trade negotiations. |
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