EU Will Seek to Impose Sanctions on U.S.

[AlCzervik]

http://news.yahoo.com/news?tmpl=story&u=/ap/20050331/ap_on_bi_ge/eu_us_trade_sanctions_11
Thu Mar 31, 9:28 AM ET

 Business - AP

By RAF CASERT, Associated Press Writer

BRUSSELS, Belgium - The European Union head office said Thursday it will seek to impose additional sanctions of up to 15 percent on U.S. products to punish Washington for failing to repeal an antidumping law ruled illegal by the World Trade Organization.


The European Commission said its action would be joined soon by seven other nations, including Japan, South Korea and Brazil, which had all requested the WTO authorize retaliation.


The EU's move would slap additional duties of up to 15 percent as of May 1 on such U.S. products as paper, textiles, machinery and farm produce. The European Commission's proposal still needs to be approved by the EU member states.


Targeted items ran from writing pads to sweetcorn, tablecloth and sports footwear.


The EU said that according to the latest information, the level of retaliation would amount to slightly less than $28 million.


The agency said it took its latest step "in light of the continuing failure of the United States to bring its legislation in conformity with its international obligations."


"Hello china, this is George, we need you to buy some more bonds, we have fines to pay, can you help a brother out?"

[jojo54]

1. Just great!

Make matters worse, George. That's o.k. you're doing a fine job destroying this nation. High 5's all around.

[AlCzervik]

2. I think The EU will be a force to be reckoned with

i dont see them taking much shit from chimpoleon.

[jojo54]

3. I hope so

I don't think the other repukes will be happy about this either. They have their own offshore $$ making interests to watch out for. And more sanctions means more taxes on their products which, of course they will pass down to the little man.

[HereSince1628]

4. off the subject but questions re gov. support of industry.

I read all the time that the US is the only developed nation that doesn't have national universal health care (I'm not sure about that, but I am not in a position to question it). So it seems many American companies (though maybe less and less) pay for health insurance.

How do the EU nations pay for national health care?

How is that factored into comparisons and consideration about government support of industry?

Is the US killing its competitiveness by not having national universal health care?

[TheFarseer]

5. How can this be?

We seem to be getting hosed by all of our trading partners and WE are the ones violating trade agreements? I don't buy it. We're not doing anything that other countries aren't I think they're just pissed at bush more than anything.

[AlCzervik]

6. it's payback for the anti-dumping law re: steel, and they hate Bush