Europeans Plan to Press for Tariffs Against U.S.

[trof]

By ALAN COWELL

Published: December 6, 2003


LONDON, Dec. 5 - One day after President Bush abandoned American protective tariffs on imported steel to avert a trade war with Europe, Pascal Lamy, the European trade commissioner, said he would use the same tactics again in another long-running trade dispute with the United States.

Mr. Lamy said the European Union would press ahead with punitive tariffs on some $4 billion worth of goods from politically pivotal regions of the United States if Washington did not end tax breaks for American corporations' offshore operations. The tax breaks have already been found by the World Trade Organization to be an illegal export subsidy.
http://www.nytimes.com/2003/12/06/business/06trade.html?ex=1071291600&en=e31c0219919c10be&ei=5062&partner=GOOGLE

My comments:
1. Interesting that the EU appears to have found a strategy that works. Target sensitive political areas in the U.S.
2. So...we (at DU) don't want U.S. corporations to get offshore tax breaks and neither does the EU. Hadn't looked at it from their perspective before. You never know where you might find your allies.

[La_Serpiente]

1. We can use it to our advantage

President Bush will be blaming Europe. Democrats should step up and make anti-corporation attacks on the offshore businesses.

[mikehiggins]

2. Oh, the hilarity! Oh, the irony!

That the Bushes might get screwed by the same "free trade" mechanism they worked so hard to inflict on the world.

What does Dubya do now?

Cut the tax breaks on the economic traitors he is so comfortable in bed with?

This isn't a bunch of sweaty steel workers he'll have to screw this time; its members of his own club.

And people think there is no God ;^)

[mikehiggins]

3. Oh! Oh! Oh!

And the Bush foriegn policy has been so successful that the European Union loves and admires us so very, very much.

God I hope this doesn't turn out to be a flash in the pan.

This is delicious!

[The Zanti Regent]

4. Well, Mr. "I'm a Uniter" F***s up AGAIN!

My friends from Europe send me articles from their free press, everyone hates President Dog Turd.

He's going down as the biggest ASSHOLE who ever sat in the Presidency, believe me. Clark will kick his ass SO HARD, this dog turd is going to become the FIRST ASSHOLE who EVER ORBITED THE EARTH!

[Zech Marquis]

5. serves him right!

i had a somewhat daark, evil desire for the EU to say "you called us wimps, cowards, and more when you invaded Iraq, AND you still use that cronyism fr your so-called free trade poilcy...well, guess what? Old Europe is gonna slap you with some tarrifs anyway--POW!" And this time they're aiming right where it'll hurt the * gang!

Bravo EU! :bounce:

[Just Me]

6. I knew "Old Europe",...

,...would find a way to counter this administration's arrogance and I fully anticipated it would be in the form of an economic POW!!! I hate to see common folks get caught in this cross-fire,...but, I suppose it is unavoidable. Hell, it's not like Bush wasn't the one who put us all at risk to begin with,...as*wipe. He didn't have the wherewithall to actually anticipate that his audacity would come back to bite him *heh heh heh*!!!

[Paschall]

7. I don't know about that "common folk" bit

If these tax loopholes were closed, US corps would be paying a lot more taxes, meaning there would be a lot more money available for social programs to help the common folk.

I mean,you don't think Enron set up hundreds of overseas subsidiaries for the good of the American people do you?