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The Dallas Morning News World View Column.(Knight Ridder/Tribune Business News)
Knight Ridder/Tribune Business News, November, 2000 by Landers, Jim
Nov. 27--WASHINGTON-- LAW DESIGNED TO HEAD OFF TRADE BATTLE: The latest legislation to clear Congress and gain President Clinton's signature was designed to avoid what Republican Rep. Bill Archer of Houston called "the mother of all trade wars" with Europe.
It stemmed from last February, when a World Trade Organization appeals panel agreed with the 15-nation European Union that U.S. corporations were getting a $4 billion subsidy on their exports by escaping income taxes on foreign sales routed through subsidiaries in tax havens.
Europe threatened to put punishing tariffs on imports of U.S. airplanes -- Boeing Co., for instance, is the biggest beneficiary of the U.S. tax break -- and other finished goods. India and other countries took notice,...
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