Printer Friendly

EU customs duties lifted.

The Bureau of International Recycling (BIR) has informed its members that EU customs duties on imports of certain products (including iron and steel scrap, aluminum scrap, recycled textiles and rags) from the United States have been suspended retroactive to the start of this year.

The decision follows a Council Regulation adopted Jan. 31, 2005. Trade sanctions were imposed on the United States in reply to a U.S. law that allowed foreign sales corporations (FSCs) to benefit from export subsidies totaling more than $4 billion yearly since 2000.

The duties will be suspended until Jan. 1, 2006, or 60 days after review by the World Trade Organization (WTO) to determine whether the FSC successor legislation, the American Jobs Creation act, is compatible with WTO rules.

The FSCs were found by the World Trade Organization in 2000 to be a direct subsidy to exports. In May 2003, the EU was authorized by the WTO Dispute Settlement Body to impose countermeasures of up to a level of $4 billion in the form of additional duties of imports of certain products from the United States.

The new EU regulation aims at encouraging the United States to comply fully with WTO rules and to remove the remaining trade distortion created by subsidies granted since the adoption of the FSC Act.
COPYRIGHT 2005 G.I.E. Media, Inc.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2005, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

Article Details
Printer friendly Cite/link Email Feedback
Title Annotation:BIR REPORT
Publication:Recycling Today
Date:Apr 1, 2005
Previous Article:New regulations for scrap shippers to China.
Next Article:BIR members look toward Spain.

Related Articles
Delicate condition. (Nonferrous).
Overview from Oslo: recyclers from around the world gathered in Oslo for the 2003 BIR Spring Convention. (BIR Wrap-Up).
No scrap zone: Eastern Europe could be a helpful source of supply for a red-hot scrap market, but restrictive export strategies have in effect closed...
Deadline for China exports hits.
BIR Committee to investigate plastic scrap specs.
New regulations for scrap shippers to China.
Nonferrous markets stay upbeat.
Defending free trade.
Hynix increases Eugene output.
News of the world.

Terms of use | Privacy policy | Copyright © 2020 Farlex, Inc. | Feedback | For webmasters