US Plans for Appeal Are Uncertain After Unfavorable WTO Ruling on Export Tax Credit.(World Trade Organization rules US export tax credit law violates international trade law)(Government Activity)(International Pages)(Brief Article)

Chemical Market Reporter, August, 2001 by Hess, Glenn

THE BUSH administration remained noncommittal last week on whether the US will appeal the World Trade Organization's (WTO) ruling that a US export tax credit law violates international trade rules. "We are weighing our options" on the US's most sensitive trade issue, but the US remains firm in promoting its economic interests and fulfilling its trade obligations, a spokesman for the White House trade office says.

In Geneva, Switzerland, on August 20, the WTO formally declared that the Foreign Sales Corporations (FSCs) Repeal & Extraterritorial Income Exclusion Act, passed by the US Congress last November after the European Union (EU) objected to the original FSC scheme, is still a prohibited export subsidy. The US has until October 19 to contest...

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