The European Commission and the U.S. have settled a long-standing dispute concerning a practice called ‘zeroing’ that the U.S. uses to calculate duty rates for products that are dumped on the market at below-market prices. Zeroing is a calculation method that led to higher duties for EU exporters, despite the method being found inconsistent by the World Trade Organization (WTO) in a series of dispute settlement cases. “This understanding solves this long-standing dispute,” says EU Trade Commissioner Karel De Gucht. “It will bring immediate relief to EU exporters who will no longer have to pay excessive anti-dumping duties … We have now re-established a level playing field for our companies.” The change in policy could save EU exporters approximately $15 million per year.
No more U.S. “zeroing” on EU exporters
Industry News | May 1, 2012 | By: ATA
You might also like...
INDA invites nonwoven professionals to present at IDEA25
Dietz-motoren joins ITMF as corporate member
AAFA announces board of directors leadership for 2024–2025
H&M Group and Vargas Holding launch new venture to scale textile-to-textile recycled polyester
Industry members visit Washington for annual Advocacy Days
Active Apparel Group announces seventh anniversary with FUZE Technologies