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CITAC welcomes HR-1121
to appeal Byrd anti-dumping law
U.S. Reps Jim Ramstad (R-Minnesota)
and Clay Shaw (R-Florida) have introduced
House Resolution 1121 to repeal the “Continued
Dumping and Subsidy Offset Act” commonly
referred to as the Byrd Amendment.
“This illegal trade subsidy
provides incentives for companies to seek
anti-dumping and countervailing duty rewards
rather than seeking new markets for their
products,” Ramstad said. “This
is time, effort, and capital that is being
wasted chasing court cases instead of contributing
to our economy and creating jobs.”
The amendment allows American
companies to take to court foreign companies
and exporters they say sell products below
market price in the U.S. It also provides
funding to companies that petitioned or supported
antidumping and countervailing duty actions,
while other duties are distributed to the
U.S. Treasury.
The Byrd Amendment provides
a double hit on importers and consumers of
products subject to antidumping and countervailing
duties. They not only must pay these duties,
but also witness the money transferred to
their US competitors.
To date, the US Government
has paid more than $1 billion directly to
US companies who file and support antidumping
and countervailing duty petitions that result
in duties. Last year alone, Byrd payments
totaled $284 million.
The introduction of HR 1121
was immediately welcomed by the US Consuming
Industries Trade Action Coalition (CITAC).
"This is precisely the
right bill at the right time," stated
Steve Alexander, CITAC Executive Director
and President of lobbying firm The CMR Group. "Byrd
is one of the most important trade issues
facing our members, and CITAC is pleased
to work with Reps. Ramstad and Shaw to ensure
that it is repealed as soon as possible."
CITAC
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