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Image header Agence Europe
Europe Daily Bulletin No. 8805
Contents Publication in full By article 11 / 41
GENERAL NEWS / (eu) eu/united states

Commission welcomes FSC repeal but hopes to look at new system more closely

Brussels, 12/10/2004 (Agence Europe) - Almost four years after expiry of the deadline set by the World Trade Organisation (WTO), the US Congress definitively adopted on Monday a new tax law that does away with export subsidies for American companies (Foreign Sales Corporations, FSC). The law has to be signed by President Bush before it can take effect. The US Congress, however, has provided for a transitional period up to 2006 during which American exporters may still benefit from advantages...

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