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EU Lowers Retaliatory Tariffs on Jeans Made in US

Denim made in the U.S. and going into Europe will have tariffs reduced from 1.5% to 0.45%.

Elise Shibles, a member of Sandler, Travis & Rosenberg (STR) customs and international trade law firm, explained that the retaliatory tariff on American jeans first came following the Byrd Amendment, which permitted U.S. industries to distribute duties from other countries as a result of anti-dumping and counterveiling measures (AD/CV). After the World Trade Organization (WTO) found in a dispute resolution case that the U.S. companies were being doubly compensated, they revoked the Byrd Amendment and let other countries raise tariffs up to the values of the distributed funds, which vary every year.

Read more at Rivet.