Tuesday, February 24, 2004
Yahoo! News - WTO Gives EU OK to Sanction U.S. Steel: "The United States was given until July 2001 to repeal the law. When it failed to do so, the EU asked the WTO for permission to start imposing retaliatory trade sanctions.
The arbitrators ruled that the EU could base its sanctions on the amount European companies were fined under the law, or the amount they paid in out-of-court settlements. They declined to rule on the EU's plans to adopt a 'mirror' law that would allow U.S. companies to be prosecuted in the European Union.
Numerous cases linked to steel have been heard by the World Trade Organization. In the biggest so far, President Bush dropped additional 'safeguard' duties on steel imports after the WTO ruled them illegal.
In the most recent case, the EU complained this month that U.S. anti-dumping duties on imports of steel — as well as pasta and chemicals — are being wrongly calculated. "
The arbitrators ruled that the EU could base its sanctions on the amount European companies were fined under the law, or the amount they paid in out-of-court settlements. They declined to rule on the EU's plans to adopt a 'mirror' law that would allow U.S. companies to be prosecuted in the European Union.
Numerous cases linked to steel have been heard by the World Trade Organization. In the biggest so far, President Bush dropped additional 'safeguard' duties on steel imports after the WTO ruled them illegal.
In the most recent case, the EU complained this month that U.S. anti-dumping duties on imports of steel — as well as pasta and chemicals — are being wrongly calculated. "
