WASHINGTON, DC – The National Foreign Trade Council (NFTC) today issued a statement praising the House Ways and Means Committee action yesterday to repeal the “Byrd Amendment.”
“The NFTC applauds the Ways and Means Committee decision to repeal the Byrd Amendment as part of budget reconciliation. It will bring the United States into compliance with important WTO trade obligations. It is a long overdue action, and we urge the full House and Senate to support it,” stated Mary Irace, NFTC Vice President.
The Byrd Amendment requires that duties collected under antidumping and countervailing duty orders be distributed to eligible producers that supported the initial petition leading to the duties. It was found to be inconsistent with U.S. obligations under WTO rules agreements.
“Repealing the Byrd Amendment will demonstrate that the United States will uphold its trade commitments. The NFTC believes it will encourage WTO members to take similar steps in complying with their trade obligations,” said Irace.
“With the Hong Kong Ministerial less than eight weeks away, this action is a signal to our trading partners that the United States is committed to leadership in the WTO. We believe it will build on the renewed momentum in the trade talks under Ambassador Portman’s leadership and his recent tabling of a bold new U.S. agriculture proposal,” concluded Irace.
