Press Release: Foreign Sales Corporations (FSC): Commission prepares for the imposition of countermeasures on US products

The European Commission adopted a proposal on 5 November 2003 imposing countermeasures on selected US products in connection with the long-standing WTO dispute on the US Foreign Sales Corporations. Under the proposed scheme, countermeasures would be imposed gradually starting from 1 March 2004. The Commission's proposal is in line with the WTO authorisation, granted earlier in 2003, to apply countermeasures of up to $4 billion following the failure of the US to comply with the WTO rulings. The proposal has now been forwarded to the Council for its adoption.

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://mkaccdb.eu.int/dsu/doc/ds108-26.doc http://mkaccdb.eu.int/dsu/doc/ds108-26.doc

http://trade-info.cec.eu.int/wtodispute/show.cfm?id=152&code=1 http://trade-info.cec.eu.int/wtodispute/show.cfm?id=152&code=1

http://mkaccdb.eu.int/miti/dsu http://mkaccdb.eu.int/miti/dsu

http://ec.europa.eu/comm/trade/issues/respectrules/dispute/pr051103_en.htm http://ec.europa.eu/comm/trade/issues/respectrules/dispute/pr051103_en.htm

---