EU to comply with WTO ruling, scrapping tariffs on high-tech imports from U.S.

[pampango]

Source: Canadian Business

The European Union signalled Tuesday that it was prepared to scrap tariffs on billions dollars worth of high-tech imports from the United States, Japan and Taiwan, which were ruled illegal by the World Trade Organization last month.

Brussels could have filed an appeal by Tuesday's deadline, but said it would instead concentrate on complying with the WTO's decision.

The trade body condemned the EU in August for levying duties on flat-panel computer monitors, cable and satellite boxes that can access the Internet, and printers that can also scan, fax and copy. The U.S., Japan and Taiwan argued that those products should have been accepted tax-free under a 1996 agreement on information technology equipment.

"There are certain aspects where we would have preferred the panel to rule differently," EU trade spokesman John Clancy said in Brussels. "On balance, however, the EU has decided it was preferable not to appeal this report and will instead focus its efforts on implementation."

Read more: http://www.canadianbusiness.com/markets/headline_news/article.jsp?content=b4590039

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The EU doesn't like the decision but will implement it anyway. It's so "European" to join an international organization, respect its decisions until such time as you are successful in negotiating changes in the rules or you withdraw your membership. Whatever happened to "European exceptionalism". ;)

[Ozymanithrax]

1. There is no such thing as "Exceptionalism" European, American, or any other...

nationalist branding of the term.

There decisoin fits with free market ideals where countries have no right to protect the jobs of their people.

[PSPS]

2. Odd. None of the items they list are made in the U.S.