Australia Threatens Penalty Tariffs Against USAustralia increased pressure Wednesday on the United States to drop tariffs on its lamb.According to the Australian Associated Press, Trade Minister Mark Vaile said Australia could slap penalty tariffs on U.S. imports if did not act on a World Trade Organization (WTO) ruling against the lamb tariffs. "If the U.S. does not implement by that date, then Australia will have the right of retaliation," he said. Early Wednesday, Australia and New Zealand gave the U.S. another two weeks to put up a plan to cut lamb tariffs introduced two years ago by the Clinton administration. It was estimated the tariffs had cost Australian lamb producers 30 million Australian dollars (about 15 million U.S. dollars) in lost exports during the past two years. A WTO appeals body in May upheld a ruling that the tariffs, and other restrictions on Australian and New Zealand lamb, breached world trade rules and Australia had until 1 am local time Wednesday to ask WTO to begin arbitration proceedings against the U.S. Farmers expressed their displeasure at the government's handling of the issue, saying the U.S. was playing Australia for its own ends. Vaile argued giving the U.S. another fortnight weeks did not harm the interests of Australian farmers as arbitration was still available. He was confident the U.S. would find a proposal to cut its tariffs, but if it failed to do so then Australia would use its rights under the WTO to introduce its own tariffs on American products. |
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