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----- Original Message -----
From: <[EMAIL PROTECTED]>
To: <[EMAIL PROTECTED]>
Sent: Sunday, October 13, 2002 7:47 PM
Subject: [Info4] EU Threatens US With Massive Trade Sanctions


EU Threatens US With Massive Trade Sanctions

http://www.guardian.co.uk/eu/story/0,7369,791681,00.html
Mark Tran
Friday September 13, 2002

The EU today stepped up the pressure in its trade
dispute with the US by publishing a list of American
goods liable for sanctions worth billions of dollars.
This initial list includes products ranging from chewing
gum and boiled sweets to parts for nuclear reactors.
The goods are worth around $14bn (8.9bn) annually,
but the final list may be trimmed once European
companies exclude products they need or to avoid
retaliation.

"It has been published today and we have given
industry 60 days to react, up to November 12," an EU
trade official said. "After that we will draw up a
definitive list."

The EU won the right to impose the duties after the
world trade organisation (WTO), the global trade
body, ruled that a US tax break scheme for
companies amounted to a massive illegal subsidy for
exporters. The EU has said it would prefer
Washington to change the offending law rather than
resort to sanctions that could rupture world trade.

MORE: http://www.guardian.co.uk/eu/story/0,7369,791681,00.html




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