WASHINGTON — Averting potential trade retaliation from Japan and the European Union, the U.S. said Monday it had reached agreement with the two major trading partners, bringing an end to a long-standing dispute at the World Trade Organization over how the U.S. calculates antidumping duties.
The WTO had ruled in two separate decisions over the past nine years that the U.S. ran afoul of global trade rules in its use of “zeroing,” which is used to describe the methodology in calculating duties it imposes on goods that are found to be dumped into the U.S. market below fair market value. The U.S. said it will end the practice to come into compliance with two separate WTO rulings, one in April 2006 in the EU dispute and the other in January 2007 in the Japanese dispute that found the U.S. was inconsistent with WTO rules.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)