European Union Official Says EU Prepared to Retaliate Quickly in Steel Cas

[Judi Lynn]

European Union Official Says EU Prepared to Retaliate Quickly in Steel Case
By Martin Crutsinger The Associated Press
Published: Nov 4, 2003




WASHINGTON (AP) - The European Union will move quickly to impose economic sanctions on the United States if it receives a favorable ruling next week from the World Trade Organization in a bitter trade dispute involving steel, EU Trade Commissioner Pascal Lamy said Tuesday.

"If the United States does not move, retaliation is a racing certainty in mid-December," Lamy said in a speech to a Washington audience following two days of discussions with the Bush administration and congressional leaders.

The EU has threatened to impose $2.2 billion in sanctions on U.S. imports to Europe if the United States does not remove steep tariffs on various types of foreign steel that President Bush imposed in March 2002 in an effort to give the beleaguered domestic industry breathing room to reorganize.

On another bitter trade dispute, Lamy also said that the EU would impose up to $4 billion in sanctions starting "in the early part of next year" if the U.S. Congress has not repealed by the end of this year a tax break for U.S. corporations that the World Trade Organization has ruled is an illegal export subsidy. (snip/...)

http://ap.tbo.com/ap/breaking/MGARUA6GMMD.html

[bobbieinok]

1. aha

Now we know why so many US planes were/are being sighted in Scotland!

The EU is a major threat to PNAC.