JAPAN IMPOSES 15% LEVIE ON U.S. PRINTERS

[Anonymous]

Japan to impose retaliatory levies on 15 US products
Tokyo, August 05 – The Japanese Government on August 1 decided to establish retaliatory import tariffs on 15 products imported from the United States from September 1 in response to the Byrd Amendment.
This is the first such measure Japan has ever taken against its trading partners.
Under the decision, Japan will slap a 15-percent levy on 15 product items imported from the US, including steel products, spare parts, equipment and printers.
Japanese Minister of Economy, Trade and Industry Shoichi Nakagawa said the levies will be in place as long as Washington maintains the 2000 law. The Japanese government will review the items covered and tariff rates every year.
He hoped the US will consider Japan’s decision seriously and scrap the Byrd Amendment immediately.
The Byrd Amendment is an antidumping law that, according to the World Trade Organisation (WTO)’s recent ruling, violates world trade rules.
The retaliatory measure will effectively reduce the value of the 15 US products by about 5.6 billion yen (50 million USD) per year. In 2004, imports of the 15 items to Japan totaled 13.31 billion yen.-Enditem

[Author]

August 3, 2005 at 12:29 PM