EU to Impose Trade Sanctions on US

I wasnt really sure where to put this, but here it goes.

The EU wants to put extra duties of 15% on a list of products which has yet to be released, but has been broken down into 46 general catagories and ranges from live animals to spacecraft because we didnt repeal the law, Byrd Amendment, which allows US companies to recieve proceeds from anti-dumping duties the U.S. government levels on their foreign rivals. The WTO said 3 years ago that this law is illegal under their rules.

These sanctions will cost the US $4 billion a year.


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Originally posted by tyralen
These sanctions will cost the US $4 billion a year.

A laughable drop in the bucket to the economic arm of the Bush administration, the most extraordinary fiscal management team in US history. Mostly because it doesn't hurt their self-serving programs at all.

As to the various forms of subsidies and protections afforded to US companies as kickbacks (doing nothing to make them globally competitive), it is important to see that sanctions are enforced when requests for compliance are not met, isn't it?

Its all about fair trade practices and US has not been a good boy lately.

Let also add, that is 25 countries involve they want fairness plain and simple.

US has been in control of the word markets since the ww2 as other nations become self sufficient they want to compete for control.

Its things that US can not control anymore and is the progress of other nations.