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Firms get $329 million to offset foreign goods; 1,200 recipients of subsidy plan.

Publication: The Washington Times
Publication Date: 20-DEC-02 		Format: Online
Delivery: Immediate Online Access
Full Article Title: Firms get $329 million to offset foreign goods; 1,200 recipients of subsidy plan.(BUSINESS)

Article Excerpt
Byline: Jeffrey Sparshott, THE WASHINGTON TIMES

Hundreds of U.S. companies will receive notices of cash infusion just in time for Christmas, compliments of some of their toughest foreign competitors.

The U.S. Customs Service plans to send out letters today to 1,200 American firms notifying them of how much money they can pocket from tariffs on foreign companies that sell their products in the United States.

These tariffs, a kind of tax, are imposed on goods from overseas when companies here complain, and the U.S. government agrees, they face unfair foreign competition.

Now in its second year, the "continued dumping and subsidy offset" program will allocate $329 million to most of the U.S. companies that filed claims with customs. Before 2001,...

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