International Trade Bulletin - Volume 1, Issue 10
Client Alert | 2 min read | 07.24.06
Inside this issue:
- ANTI-DUMPING IN THE SPOTLIGHT
- Comparison of The EU and U.S. Anti-Dumping Models: A Common Question Asked, Especially by Multilateral Companies, is “What are the Key Differences Between the U.S. and EU Systems for Imposing Anti-Dumping Duties?”
- EU Anti-Dumping: Spreading the Costs and Impact of Imposing EU Anti-Dumping Measures
- U.S. Anti-Dumping: More Trouble for the “Byrd Act” at Home
- THE WTO IN THE SPOTLIGHT
- WTO D-G Pascal Lamy Makes Plea to G-8 to Save The DDA: The Director-General of the WTO, Pascal Lamy, has warned leaders at the G-8 meeting in St. Petersburg, Russia, that the DDA multilateral round will fail without their intervention
- Review System Adopted For Approving Regional Trade Agreements: The WTO's Negotiating Group on Rules has given formal approval of a new transparency mechanism for assessing all future regional trade agreements (RTAs) and their compatibility with the WTO rules
- Vietnam Set to Become 150th Member of The WTO: The chairperson of Vietnam's membership negotiations announces final agreement on accession to be put before the WTO General Council meeting in October
- RUSSIA: Russia Within Striking Distance of Joining the World Trade Organization as the U.S. and Russia Gets Close to Reaching a Deal on Russia's Accession
- SANCTIONS: The State Department has rescinded the 1979 designation of Libya as a state sponsor of terrorism in a notice published in the Federal Register on July 13, 2006
- MARKET ACCESS: U.S. and Cambodia Sign Trade and Investment Framework Agreement
- JAPAN: The U.S. and Japan Release Deregulation Report Highlighting New Opportunities for U.S. Industry
- AVIATION: Airlines Studying Proposed New U.S. Rule Mandating Pre-Departure Submission of Passenger Data
- BILATERAL TRADE: Signaling a growing frustration with the multilateral trade negotiation processes, currently moving at a snail's pace under the increasingly inappropriately named “Doha Development Round”, the EU begins putting in place the building blocks for a new wave of bilateral trade agreements
Insights
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FLSA Overtime Reporting and Withholding
The One Big Beautiful Bill Act (the Act), signed on July 4, 2025, allows a deduction from an individual’s personal tax return on Form 1040 for “qualified overtime compensation” as defined in new Code § 225. The amount that can be deducted from the employee’s return is capped at $12,500 with the maximum then adjusted down if the employee’s AGI exceeds certain limits. This deduction is permitted in 2025.
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