Sri Lanka wins historic export judgment in US Court
View(s):Sri Lanka has won its first-ever revocation of countervailing duty imposed in the US for a Lankan export, thanks to the continued pursuit of the Department of Commerce of Sri Lanka.
“I praise the officials of the Department of Commerce for their committed work to win this judgment in favour of Sri Lanka” said Minister of Industry and Commerce Rishad Bathiudeen on Monday upon learning about the decision of US Court of International Trade.
“This will greatly help our Ministry’s efforts to enhance manufacturing exports, specially rubber products. This helps to strengthen our trade with US as well,” he was quoted as saying in a media release
Director General -Commerce Ms. Sonali Wijeratne said this is Sri Lanka’s first international victory on countervailing duties especially for a well-known rubber product export.
The US Court of International Trade, on July 11 has ruled that the 0.95 per cent countervailing duty attributed to the guaranteed price scheme on import of off-road OTR tyres from Sri Lanka be removed.
Interestingly, as a result, not only 0.95 per cent duty is out but a larger, 2.18 per cent countervailing duty on the imports of off-the-road (OTR) rubber tyres from Sri Lanka to the US too will be eliminated as a result due to the operation of WTO Agreements once the 0.95 per cent duty is removed, the release said.