The arguments are finished for the hearing between the USA versus Canada and Mexico on COOL issues. Short answer: The arbitration panel indicated that it would have a decision by late November.
The issue is the amount of damages. Canada and Mexico claim US$3.1 billion. USA claims US$100 MILLION, plus or minus. That's 30 times LESS than Canada/Mexico.
The arbitration panel can decide on the low amount or the high amount or anything in between.
The decision is binding on both parties, with no appeal possible.
The arbitrator then makes a recommendation to the Dispute Settlement Body (DSB) regarding penalties. The DSB can then require penalties or decide not to accept the recommendation. See below: from this link http://www.ictsd.org/bridges-news/bridges/news/wto-arbitration-in-country-of-origin-labelling-case-gets-underway
Next steps
At the end of the hearing on Wednesday, the arbitrator indicated that its decision is scheduled for late November.
According to WTO rules, the parties must accept the arbitrator's decision as final and cannot seek a second arbitration.
The DSB shall then be informed of the arbitrator’s decision and shall upon request, grant authorisation to suspend concessions or other obligations in line with that decision, unless the Dispute Settlement Body decides by consensus to reject this request.
More to follow. Tomorrow I will speak directly again with the office of US Senator Debbie Stabenow, who is the ranking member on the Senate Agriculture Committee. She is not in favor of repealing COOL laws.
