I had to look it up in Wikipedia
To dip a flag that is being carried means to lower it by turning it forward from an upright position to 45° or horizontal. This is done as a sign of respect or deference.
(It is done by lowering to half mast and returning to full mast position.)(See below.)
To dip the flag on a merchant vessel passing a naval vessel involves lowering the stern flag (the country flag) to the half-mast position and back to the truck as the vessels pass abeam of each other.The half-mast position in this case being one flag width from the truck as in the case of half mast.
Some jurisdictions have laws that discourage or prohibit the dipping of the national flag; these include the United States (with its non-binding flag code), India, Philippines and South Africa.
So... if US law says NO DIPPING of OUR FLAG, then why is there even a question about doing it ?
Are all the countries going to dip their flags as well?
What are we dipping it for ? Did someone die?