/javascript" src="../static/js/analytics.js"> CalTrade Report - EU Deadline on Trade Sanctions ''Firm'' European Union, trade war, CalTrade Report - EU Deadline on Trade Sanctions ''Firm''../">CalTrade Report Asia Quake Victims 02/01/04 – The EU has been given the go-ahead to impose the sanctions based on the 2002 WTO ruling that the US mechanism allowing thousands of firms to benefit from reduced export taxes violates international trade law; the sanctions ''will kick in…unless there is compliance on the US side.'' - 02/01/04 – The EU has been given the go-ahead to impose the sanctions based on the 2002 WTO ruling that the US mechanism allowing thousands of firms to benefit from reduced export taxes violates international trade law; the sanctions ''will kick in…unless there is compliance on the US side.'' - EU Deadline on Trade Sanctions ''Firm'' European Union, trade war, CalTrade Report - EU Deadline on Trade Sanctions ''Firm''../i/shim.gif

 

August 30, 2005

 

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EU Deadline on Trade Sanctions ''Firm''

Calls to extend the March 1 deadline are rejected

BRUSSELS, Belgium - 02/01/04 - The European Union has rejected calls to extend its March 1 deadline for imposing trade sanctions on $4 billion worth of American goods in retaliation for US tax breaks to exporters.

"They will kick in on March 1 unless there is compliance on the US side," said EU trade spokeswoman Arancha Gonzalez.

According to the Associated Press, the EU has been authorized to impose the sanctions by the World Trade Organization that declared in 2002 that the US rules allowing thousands of firms to benefit from reduced export taxes violated international trade law.

Gonzalez said the EU had received indications that Washington would alter the rules before the deadline, despite calls from some US legislators for more time to enact the necessary chances to the complex tax law.

"We hope that compliance will take place by March 1," Gonzalez told reporters. "Compliance will mean that we don't impose sanctions and we put to bed this very old dispute. It's in the US hands."

The EU said last November that it would start applying a 5% tariff on the $4 billion of US goods from March 1 and increase it by 1% each month for a year, unless the tax breaks are eliminated.
 
The EU has intimated that it plans to target products including orange juice and textiles produced in states key to President Bush's re-election bid in November.

Go back, or read the latest Front Page stories:

''Chuppies'' Want More High Quality US Products

ATLANTA, Georgia – 08/29/05 – China’s emerging middle class wants to see more high-quality American-made products on the country’s store shelves, according to a recent survey of high-income consumers in six major Chinese cities; the country’s so-called ''Chuppies'' are developing ''brand consciousness'' and ''a taste for foreign goods,'' and would like to spend more of their disposable income on US-made toiletries, apparel and fashion accessories, consumer electronics, videos, DVDs, and durable goods, the survey said.


Canada Waves a ''Big Stick'' at the US

OTTAWA, Canada – 08/25/05 – A trade war between the US and Canada may be in the offing as Ottawa is seriously considering slapping punitive tariffs on a number of selected US-made products in retaliation for Washington’s failure to act on a NAFTA panel ruling that US tariffs on Canadian softwood lumber imports are illegal; imposition of the tariffs could seriously impact a flow of north-south, cross-border trade that generates more than $1 billion in business every day and, conceivably, hike the cost of a bottle of imported California wine to more than $100 a bottle.


US ''Craps Out'' on Internet Gambling Prohibition

GENEVA, Switzerland – 08/24/05 – The World Trade Organization has given Washington until April 2006 to comply with a ruling that found US restrictions on Internet gambling are in violation of global trade law; the Caribbean nation of Antigua and Barbuda had charged in its original March 2003 complaint that the US prohibitions were harming its online gaming business, which is aimed at reducing the island's economic dependence on tourism.



 



 


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