GHY Tradelines

(PR Newswire)

La-Z-Boy Incorporated today reported that it expects to receive a distribution of approximately $16 million in connection with antidumping duties that were withheld earlier.

The Continued Dumping and Subsidy Offset Act of 2000 (“CDSOA“) provides for the distribution of antidumping duties collected by U.S. Customs and Border Protection (“Customs“) to eligible domestic producers that supported a successful antidumping petition (“Supporting Producers”).  As we have previously disclosed, the Company or its subsidiaries have received such distributions as a result of our support of an antidumping petition on imports of wooden bedroom furniture from China.  Certain manufacturers who did not support the antidumping petition (“Non-Supporting Producers”) filed actions in the United States Court of International Trade challenging the CDSOA’s ”support requirement” and seeking to share in the distributions. Read more here.
 

(Saira Peesker – CTV News)

Air Canada says it will lock out its pilots on Monday at 12:10 a.m., just ten minutes after a strike deadline set by the company’s mechanics, baggage handlers and cargo agents union.

On Thursday morning, the company told its pilots’ union – one of several unions in heated labour talks with the airline – that it had until noon to accept what it called the “best, last and final” contract offer. It announced the plans for the lockout at about 1:30 p.m. Read more here.
 

(STR Trade Report)

The Office of the U.S. Trade Representative announced March 6 that the U.S. has requested consultations with India at the World Trade Organization concerning its prohibitions on certain U.S. agricultural exports, including poultry meat and chicken eggs.

“India’s ban on U.S. poultry is clearly a case of disguising trade restrictions by invoking unjustified animal health concerns,” said USTR Ron Kirk.

“The United States is the world’s leader in agricultural safety and we are confident that the WTO will confirm that India’s ban is unjustified.” A press release from several U.S. agricultural trade groups cites “conservative estimates” that “if India’s trade barriers were eliminated the value of U.S. poultry exports to India each year would surpass $300 million.” Read more here.
 

On March 6, President Obama signed a proclamation to implement the U.S.-Korea Free Trade Agreement, paving the way for increased trade between the United States and South Korea.  The proclamation follows congressional approval of the free-trade accord on October 13, 2011. The two nations have agreed to put the FTA into effect as of next Thursday.

This proclamation amends the Harmonized Tariff Schedule of the U.S. to implement the preferential tariff treatment of goods imported from Korea under the terms of the FTA and specify rules of origin under which such treatment may be granted. It also authorizes the Committee for the Implementation of Textile Agreements to determine when fabrics, yarns or fibers are short supply (thus permitting preferential tariff treatment for imports of textile and apparel goods made with such inputs sourced other than in the U.S. or Korea) and to implement safeguards and enforcement actions on textile and apparel imports from Korea.

South Korean President Lee Myung-bak, addressing Korean news agencies in December 2011, said: “The accord is significant because it lays the groundwork for a ‘win-win’ relationship by reflecting the national interests of Korea and the United States in a balanced manner.”