US facing EU sanctions over $4bn tax break for exporters

The US is unlikely to meet a year-end deadline set by the European Union to remove a $4bn (£2.3bn, €3.4bn) tax break for exporters deemed illegal by the World Trade Organisation, a failure that could force the EU to make good on threats to launch trade sanctions.

ESO: In Focus: United States' Foreign Sales Corporations: European Commission publishes revised list of products, February 2003 http://www.europeansources.info/record/united-states-foreign-sales-corporations-european-commission-publishes-revised-list-of-products-february-2003/

http://ec.europa.eu/comm/trade/issues/index_en.htm http://ec.europa.eu/comm/trade/issues/index_en.htm

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