European Union to Impose Trade Sanctions on U.S
2004-02-26T17:34:39Z
This can't be good: European Union to Impose Trade Sanctions on U.S.
The European Union's trade commissioner told senior lawmakers on Thursday that the United States would face $4 billion in sanctions starting Monday because Congress had failed to eliminate overseas tax shelters for American exporters that were declared illegal by the World Trade Organization.[...]
The pain will be felt primarily by American farmers and manufacturers. The Europeans will begin imposing tariffs on agricultural goods, leather products, paper, steel, nuclear reactors, machinery, carpets, clothing and other goods that are directly competitive with thier own products.
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