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FSOT: 500 Test Prep Study Questions

Category - Economics

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The Byrd Amendment was found in violation of international trade law by a World Trade Organization (WTO) dispute settlement panel because the amendment provided that:
  1. safeguards to protect U.S. steel from imports could be extended beyond the WTO limit if certain countries granted extraordinary subsidies to their steel industries
  2. he U.S. could grant subsidies to its steel industry in excess of WTO limits to meet the competition from state-owned foreign steel industries that were not run for profit
  3. dumping margins would be calculated by the U.S. Department of Commerce and would not be subject to WTO review
  4. dumping duties collected on U.S. imports would be distributed to the injured companies
Explanation
Answer: D - Dumping duties collected on U.S. imports would be distributed to the injured companies.
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