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Europe Daily Bulletin No. 8705

13 May 2004
Contents Publication in full By article 18 / 40
GENERAL NEWS / (eu) eu/united states
Pascal Lamy welcomes American Senate's adoption of bill repealing FSC/ETI regime

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...

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