Source Pravda.Ru

Japan imposes tariffs on U.S.

Japan said it would impose additional levies of up to $50 million on U.S. steel and other goods to counter subsidies paid by Washington to companies under an anti-dumping programme ruled illegal by the World Trade Organisation.

The panel called for additional tariffs of 15 percent on 15 items of U.S. imports including steel products, ball bearings and forklifts. It would aim to implement the measure on Sept. 1. However, the sanctions are only imposed on a limited range of products, which will make limited impact, Xinhua says.

It would be the first time for Tokyo to impose retaliatory duties.

The WTO has since authorized eight members to retaliate against the United States.

Under the Byrd Amendment, anti-dumping and countervailing duties are given to U.S. producers who supported those trade remedy actions. These duties were previously deposited in the U.S. Treasury.