WTO vs USA: The Byrd Amendment
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Code : ITF0019
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Region : :USA |
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Introduction: Ever since its inception on January 1st 1995, theWorldTradeOrganization (WTO) had regulated the rules of trade among amajority of theworld’s nations. The various agreements, negotiated and signed by 147 member nations, as of April 23rd 2004, formed the basis of WTO4. The world’s largest economy, theUnited States ofAmerica (USA),was one of the biggest supporters ofWTO, contributing 23,259,391millionCHF5 (about 15.8%) out of a totalWTO budget of 160,378,776millionCHF in the year 2004.6TheUSwas also amajor participant of theWTO’s dispute settlement process, participating in 155 of the total 304 disputes (51%).7 However, by the year 2004, it seemed that the tide had turned against the US, with the US increasingly playing the defendant during the dispute settlement cases. The number of WTO rulings against the US laws and policies had also increased at an alarming rate. By the end of 2003, the WTO Dispute Settlement Board (DSB) had ruled against the US in a number of cases including the ContinuedDumping and SubsidyOffsetAct of 2000 (CDSOA) popularly known as the ‘ByrdAmendment’. The Byrd Amendment was widely considered to be an outright protectionist piece of legislation. |
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