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Bin schon fündig geworden... sollte noch jemand Infos suchen gerade von der Isteel Page... DJ EU`s Lamy Warns US To Obey WTO Or Face Trade Sanctions 05 November 2003 DJ EU`s Lamy Warns US To Obey WTO Or Face Trade Sanctions (This article was originally published Tuesday) WASHINGTON (Dow Jones)--European Union Trade Commissioner Pascal Lamy on Tuesday said he is "encouraged" the U.S. Congress can repeal an export tax break ruled illegal under international trade laws by year-end, but stressed only full compliance will allow the U.S. to avoid up to $4.0 billion worth of trade penalties. "The feeling I got from the Hill is that it can be done," Lamy told reporters after concluding two days of meetings with members of Congress and the Bush administration. "My sense is there is a lot of goodwill to get this issue sorted out," he said, referring to the tax legislation. Nonetheless, Lamy said "the devil is in the details" and warned Brussels is prepared to impose a combined total of up to $6.0 billion worth of trade tariffs on U.S. goods if the U.S. doesn`t comply with both a World Trade Organization order to scrap so-called safeguard tariffs on imported steel and a separate one for Congress to repeal a tax rebate program for exporters known as the Foreign Sales Corporation (FSC). Tariffs in connection with the steel dispute could come as soon as mid-December, Lamy said. Anything less than full compliance "would probably lead part of the membership of the WTO to believe that there are two sets of rules - one for the non-elephants and one for the elephants," Lamy said in a speech earlier Tuesday. The WTO first declared the FSC an illegal export subsidy over three years ago. The House of Representatives and the Senate have each passed bills aimed at bringing the U.S. tax code into compliance with the ruling, but neither bill has made it to the floor. The E.U. has said it would begin phasing in the tariffs in March, if the U.S. Congress fails to repeal the tax break by year-end. Lamy reiterated his view that any legislation, like the version passed by the Senate Finance Committee, that includes a phase-out period for the old tax break wouldn`t comply with WTO rules, and thus wouldn`t head off sanctions. In the steel dispute, the E.U. has said it would begin imposing sanctions on up to $2.0 billion worth of U.S. goods, if the WTO affirms an earlier decision against U.S. steel import tariff as expected Nov. 10. Once the appellate report is adopted by the wider WTO membership, action that generally takes about one month, Brussels will levy the tariff within five days, Lamy said. "If the U.S. does not move, retaliation is a racing certainty in mid-December," Lamy said. U.S. President George W. Bush imposed so-called safeguard tariffs on imported steel in March 2002. Envisioned to last for three years, the duties are to be reviewed by the president after 18 months. The tariffs were aimed at protecting the ailing domestic industry from foreign competition, which had surged after the 1997 Asian financial crisis, and give breathing room for restructuring. The decision was widely viewed as a move to win over voters in steel-producing states ahead of the next presidential election. The E.U. successfully argued before the WTO that the tariffs were imposed after the foreign share of the U.S. market had begun to decline, and thus violated global trade rules. Lamy said administration officials were careful to "protect the President`s authority" or in other words gave no hints as to whether Bush is leaning toward dismantling the tariffs or leaving them in place. -By Elizabeth Price and Joseph Rebello, Dow Jones Newswires; 202-862-9295; Elizabeth.Price@dowjones.com (END) Dow Jones Newswires November 05, 2003 07:30 ET (12:30 GMT) |
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| aus der Diskussion: | $$$$ Neue (alte) 200% CHANCE!!!!!!!!! ISTEELASIA kurz vor den Zahlen!!!!!!! |
| Autor (Datum des Eintrages): | nevertrust (05.11.03 14:38:24) |
| Beitrag: | 561 von 799 (ID:11242855) |
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