login
login

Europe Daily Bulletin No. 8578

5 November 2003
Contents Publication in full By article 18 / 29
GENERAL NEWS / (eu) eu/usa
Commission to propose trade retaliation measures in FSC affair but approach to Washington remains conciliatory

Brussels, 04/11/2003 (Agence Europe) - On 30 August 2002, the EU was authorised by the World Trade Organisation (WTO) to adopt sanctions against the USA of up to USD 4 bn, in retaliation for Washington's application of the FSC system (Foreign Sales Corporation). This system can subsidise US export companies and was condemned by the WTO but the EU has chosen to be patient and leave the Americans time to adapt their legislation to conform to the verdict of the WTO. Since the verdict was...

Contents

A LOOK BEHIND THE NEWS
THE DAY IN POLITICS
GENERAL NEWS