| Author (Corporate) | European Commission: Press and Communication Service |
|---|---|
| Series Title | Press Release |
| Series Details | IP/01/1214 (20.8.01) |
| Publication Date | 20/08/2001 |
| Content Type | News |
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On 20 August 2001, the WTO compliance panel examining the US legislation replacing the WTO-incompatible US Foreign Sales Corporations (FSC) scheme, issued its report in full support of the EU. The compliance panel concludes that the FSC Replacement Act, enacted by the US on 15 November 2000 in order to comply with the WTO ruling, is a prohibited export subsidy, violates the Agriculture Agreement and discriminates in favour of US goods in breach of WTO rules. The compliance panel has also found that the US also breached its WTO obligations by maintaining the FSC scheme in force beyond 1 November 2000 under the transitional rules of the FSC Replacement Act. The EU is fully satisfied with the results of the panel and expects the US to comply with the ruling. |
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| Source Link | http://europa.eu/rapid/pressReleasesAction.do?reference=IP/01/1214&format=HTML&rapid=0&language=EN&guiLanguage=en |
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| Countries / Regions | Europe, United States |
