9/1/2004

The World Trade Organization ruled Tuesday that eight members may impose punitive tariffs of more than $150 million against U.S. goods, a penalty designed to compensate for Congress' failure to repeal an anti-dumping law ruled illegal by the WTO last year. The EU, Canada, Japan, Mexico, Brazil, India, Chile and South Korea will now draw up lists of U.S. products to be affected by the new tariffs. One economist says he doesn't expect Congress to act to repeal the law, known as the Byrd Amendment, until 2006 at the earliest.

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