EU, Japan, S. Korea Seek OK to Impose Trade Sanctions Against U.S.

[NNN0LHI]

http://abcnews.go.com/wire/Business/ap20040115_774.html

Nations Seek Trade Sanctions Against U.S.

EU, Japan, S. Korea Seek OK to Impose Sanctions Against U.S. Over Failure to Appeal Trade Law

BRUSSELS, Belgium Jan. 15 — The European Union, Japan and South Korea asked the World Trade Organization for permission to impose sanctions on the United States in a dispute about a law that gives American firms money raised in fines levied on foreign rivals.

Other nations, including Brazil, Chile and Thailand, were expected to lodge similar requests after the U.S. Congress failed to repeal the so-called Byrd Amendment, which has been ruled illegal by the WTO.

The Geneva-based trade organization that sets rules on cross-border trade had given the United States until Dec. 27 to act.

"The Byrd amendment has raised widespread concerns from the outset as evidenced by the large number of complainants in this case," said EU trade commissioner Pascal Lamy.

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[BayCityProgressive]

1. well great....

[54anickel]

2. Yep, cost the exporters twice and the US tax payer once to cover the

sanctions in the end. What have we go to show for it? Nada, zip, zilch.

[lcordero]

3. OMG...this does nothing but look weak

The European Union, Japan and South Korea asked the World Trade Organization for permission to impose sanctions on the United States...

They should just kick the WTO out to the curb.

I hope that they put their money where their mouth is.