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That Sneaky Bryd Amendment
Posted by spyder
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| Senate Finance Committee Chairman Charles Grassley (R., Iowa) said he was disappointed but not surprised by the WTO ruling. He criticized how the law was implemented - by being inserted in an appropriations bill instead of going through the authorizing committee process. But overwhelming Senate support for the Byrd amendment makes changes unlikely. |
WASHINGTON - The World Trade Organization imposed penalties yesterday on U.S. exports ranging from apples to textiles, escalating a trade dispute the Bush administration has struggled to defuse by unsuccessfully urging Congress to repeal legislation aimed at protecting American steelmakers.
The administration signaled it would accept the penalties short term but warned that the United States would aggressively protect its own trading interests and expects fair treatment from the WTO.
"We've worked hard to comply with the WTO," President Bush said, speaking to reporters in Crawford, Texas. "It's important that all nations comply with WTO rulings."
Mr. Bush said he has worked with Congress "to get in compliance," and "we expect the WTO as well to treat our trading partners as they treat us."
In Geneva, the 148-nation WTO, which referees global commerce, approved punitive taxes long sought by the European Union and other countries because of a law they say unfairly
protects U.S. steel companies and other industries.
EU trade chief Peter Mandelson said the sanctions could be applied early next year.
The 2000 law, known as the Byrd amendment for its backer, Sen. Robert Byrd (D., W.Va.), lets the U.S. government fine foreign companies that it judges to be selling goods in America at below-market prices. The revenue is paid to U.S. companies to help them better compete.
Two years ago, the WTO ruled the law was illegal, arguing that it punishes exporters to the United States twice: First they are fined, then those fines are given to their competitors.
American officials said yesterday that the United States would comply with the ruling that declared the law illegal. |
this of course is unlike any piece of legislation recently passed in the last three weeks by the Republican party in Congress... cause they never would try to insert amendments to approrpriations bills without allowing them to be thoroughly reviewed in committees, right!
http://www.toledoblade.com/apps/pbcs.dll/article?AID=/20041127/NEWS08/411270373/-1/NEWS |
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