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Image header Agence Europe
Europe Daily Bulletin No. 8266
Contents Publication in full By article 10 / 21
GENERAL NEWS / (eu) eu/usa/fsc

Decisions report on EU sanctions

Brussels, 30/07/2002 (Agence Europe) - Initially announced for the month of April, then for the second fortnight of July, the Geneva verdict on the amount of sanctions that the Union has the rifht to impose on the USA in the so-called Foreign Sales Corporations ("FSC") is now expected in Mid August. The report is in the middle of being finalised and will "certainly be communicated to both parties in mid-August, accoridng to informed sources on Tuesday at the World Trade Organisation (WTO). Experts will have to work out the level of damages suffered by European businesses since the setting up of the new US taxation exportation aid scheme, officially mentioning the translation difficulties and the complexity of the required calculations, to justify this new postponement. The Europeans were counting on an amount of EUR 4.03 bn, while the USA asserted that trade affected was only in the range of EUR 956 million.

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