U.S. Offers To Repeal Exporter Tax Break To Satisfy WTO Ruling.(Brief Article)(Statistical Data Included)

Food Institute Report, The, May, 2000

Deputy Treasury Secretary Stuart Eizenstat offered to repeal a $4.1 billion tax break for exporters, as part of the effort to comply with a World Trade Organization ruling that the provision violates global trade rules. The break could be repealed as early as October by Congress - substituted with one that complies with the trade ruling.

Earlier this year WTO ruled the tax break, which provides sales-tax rebates on U.S. produced goods sold abroad through offshore units of American companies, breached WTO rules barring such subsidies.

If a new tax plan is devised by the U.S. that meets WTO rules, reviewed The Wall Street Journal (May 3), it could swing the balance of trade rivalry back in its favor and shame the EU, which has done little to comply...

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