WTO slaps taxes on U.S. exports

WASHINGTON (AP) -- The World Trade Organization imposed penalties Friday on a host of U.S. exports, escalating a trade dispute the Bush administration has struggled to defuse by unsuccessfully urging Congress to repeal legislation aimed at protecting American steelmakers.

The administration signaled it would accept the penalties in the short term, but also warned that the United States would aggressively protect its own trading interests and expects fair treatment from the WTO.

www.cnn.com...

As we're talking, in other threads, about the relationship of the U.S. with international bodies, I thought it was relevant to add this.

I'm surprised Bush used the word "comply". I didn't know that was in his vocabulary. But I think it's encouraging that the U.S. is still a team player in this.

What do our more isolationist posters think of this?

My thoughts on the issue is summarized here.

The only occasion when a WTO body can have a direct impact on a government�s policies is when a dispute is brought to the WTO and if that leads to a ruling by the Dispute Settlement Body (which consists of all members). Normally the Dispute Settlement Body makes a ruling by adopting the findings of a panel of experts or an appeal report.

Even then, the scope of the ruling is narrow: it is simply a judgement or interpretation of whether a government has broken one of the WTO�s agreements�agreements that the infringing government had itself accepted. If a government has broken a commitment it has to conform.



[edit on 26-11-2004 by Raphael_UO]