| Author (Person) | Buck, Tobias |
|---|---|
| Series Title | Financial Times |
| Series Details | 8.5.03, p10 |
| Publication Date | 08/05/2003 |
| Content Type | News |
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The WTO Dispute Settlement Body (DSB) authorised the European Union on 7 May 2003 to increase customs duties up to the level of 100%, for a total of $4 billion of US Trade. This move clears the way for the EU to impose countermeasures to be applied on a detailed list of products notified to the DSB Just hours before the DSB gave its final approval, the European Commission issued an ultimatum giving the US Congress until the end of September 2003 to repeal the Foreign Sales Corporations provision (which benefits large exporters such as Microsoft and Boeing), or face sanctions worth $4bn. |
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| Countries / Regions | United States |
