Byrd Ban
The World Trade Organization (WTO) has ruled against a U.S. law enacted two years ago that allowed the U.S. government to share tariff revenue with private companies. The Byrd Amendment was enacted in 2000 to assist U.S. companies hurt when foreign firms “dumped” goods in the U.S. market for less than cost. The law allowed U.S. firms to receive the tariff monies collected from anti-dumping lawsuits. Ten WTO members, including the European Union and Canada, challenged the law.
