Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Clinton On Lamb Tariffs


President Clinton Provides Import Relief And Adjustment Assistance For U.S. Lamb Industry

President Clinton today announced a combination of import relief and domestic assistance for the U.S. lamb industry lasting three years in response to a recent surge in lamb meat imports.

The President's action follows a unanimous finding by the United States International Trade Commission (USITC) that the domestic lamb industry is threatened with serious injury due to a surge in lamb imports. In April, the USITC recommended that the President provide import relief to the domestic industry.

Today's decision demonstrates the President's commitment to the vigorous and full enforcement of our trade laws. The package of import relief and domestic assistance has been carefully crafted to help our lamb industry achieve sustained competitiveness, while respecting our international trade obligations.

As part of today's actions, imports of lamb meat will now face higher duties for three years, effective July 22, 1999. Specifically, imports up to a quota level set at 1998 import levels will be subject to duties of 9 percent in the first year and declining thereafter; while imports above the quota will face sharply higher tariffs, starting at 40 percent in the first year and declining thereafter.

The President further directed the Administration to develop an effective assistance package for the domestic lamb industry. The package will total as much as $100 million over the next three years - half of which will be available in the first year. It will include funding for productivity improvements, market promotion, animal health, and domestic purchases.

To ensure that the relief enhances the competitiveness of the U.S. lamb industry, the President will set specific benchmarks for the USITC to apply in its mid-term evaluation of industry developments.

© Scoop Media

Business Headlines | Sci-Tech Headlines


I Sing The Highway Electric: Charge Net NZ To Connect New Zealand

BMW is turning Middle Earth electric after today announcing a substantial contribution to the charging network Charge Net NZ. This landmark partnership will enable Kiwis to drive their electric vehicles (EVs) right across New Zealand through the installation of a fast charging highway stretching from Kaitaia to Invercargill. More>>


Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>


Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>


Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>


Half A Billion Accounts, Including Xtra: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>


Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news