Brussels, 12/05/2004 (Agence Europe) - Pascal Lamy welcomed the vote by the American Senate on 11 May on a law (JOBS law), which repeals the Foreign Sales Corporations/Extra Territorial Income Act (FSC/ETI). This regime, which the WTO has long considered a source of illegal export aid, caused the EU to adopt retaliatory measures on 1 March 2004 (see EUROPE of 2 March, p.7, and of 3 March, p.7).
The European Commissioner for Trade said: "I have repeatedly stated that our objective remains...