US saddened by European "retaliation" on tax row

[Tom Yossarian Joad]

http://story.news.yahoo.com/news?tmpl=story&cid=1504&ncid=1504&e=7&u=/afp/20031105/bs_afp/eu_us_wto_trade_reax_031105211358

WASHINGTON (AFP) - US President George W. Bush (news - web sites)'s administration said it was disappointed by European plans to retaliate unless it scraps an illegal export tax break for companies.

The European Commission (news - web sites) is recommending that member states impose duties on US goods starting from 200 million dollars next March unless the scheme is repealed.


European frustration is rising over the US failure to comply with a World Trade Organization (news - web sites) ruling against tax allowances afforded to US firms registered as Foreign Sales Corporations (FSCs).


"Given the EU's focus on compliance with the WTO ruling, we would expect the EU to work with us to solve the problem, not retaliate," US Trade Representative spokesman Richard Mills said.
<snip>

[denverbill]

1. What a bunch of monons.

On Tuesday, Senate finance committee chairman Charles Grassley said there was a lack of appreciation in Europe for the US "political realities".

<snip>

Political realities are that you don't want to screw over the US economy in 2003, because it would screw over the US economy just in time for Election 2004. It's so tough pandering to large corporate contributors.

[ChompySnack]

2. "Saddened"

We're really sad that you are charging us more money because we are giving our corporations massive tax breaks.

I think I'm going to cry I am so sad.

[Kellanved]

3. one more thing

--snip
The EU has already drawn up a hit list of US imports worth about $2.2bn a year which will targeted with retaliatory sanctions.

The list, which includes Harley Davidson motorcycles, citrus fruit, and textile products, is said to have been calculated so as to hit hardest regions which support President Bush's Republican party.

--snap
http://news.bbc.co.uk/2/hi/business/3243423.stm#startcontent

[Tom Yossarian Joad]

4. THAT will get his attention. n/t

[karlschneider]

5. Yeah, like a shiny thing gets a cat's attention. It fascinates him but

he has no clue what the hell it is or what it means.
:eyes:

[lovedems]

9. Very smart thinking on Eu

They don't want to punish americans, just those who support this monstrosity we call bushco.

[Mikimouse]

6. Saddened? Awwwwwww, Poor Baby...

What goes around, comes around!:nopity:

[jonoboy]

7. oh dear so 'old Europe' still has a bit of bite left then

[Coventina]

8. No worries!!

The "new Europe" will more than make up for any burdens placed on us by "old Europe". In fact, our exports will probably increase dramatically!!

:D

(I hope ya'll realize I'm kidding!)

[Gin]

10. I'm sad that the US is being run onto the ground by a bunch of

loonies...the inmates are running the asylum.

Come on Universe...it's karma time.