Mech
Joined: 06 Jun 2001
Posts: 8237
Location: THE 4th REICH USA |
NWO Globalist WTO ready to slap the US with trade sanctions
 Thu Nov 25, 2004 5:21 pm
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Ah yes...isnt losing our national sovereignty under "FREE TRADE" to multinational corporations great?
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WTO Ready for U.S. Sanctions
1 hour, 10 minutes ago
GENEVA (Reuters) - The World Trade Organization cleared the way on Thursday to impose $150 million of trade sanctions on the United States, sought by the European Union and others, after lawyers resolved a legal wrangle.
The sanctions request, which stems from a row over an illegal U.S. anti-dumping law, had been expected to be rubber-stamped by the WTO on Wednesday.
But U.S. lawyers delayed authorization for 48 hours, when they queried some of the wording in the demand made by the EU and its allies -- Canada, Mexico, Brazil, India, Japan and South Korea.
"The problem has been resolved. We can resume our meeting tomorrow," Kenyan ambassador Amina Mohamed, chairwoman of the WTO's disputes settlement body (DSB), told Reuters.
The case, one of a number pitting Brussels against Washington, involves the so-called Byrd amendment, a measure the Geneva body has repeatedly declared breaks trade rules.
The green light for sanctions from the DSB is effectively automatic because the case has gone through all the WTO stages for settling disputes, including appeals and arbitration.
Only a unanimous decision by all 148 WTO member states, including those seeking the sanctions, could block it.
Diplomats said Washington had pressed for changes to the wording in the sanctions' request to ensure it did not exceed limits set by trade arbitrators.
The lion's share of the right to retaliate goes to the EU and Japan, because their companies are the most affected. Brussels has warned it could slap additional duties on U.S. goods early in 2005, if Washington does not repeal the measure.
EU and Japanese retaliation has been set at some $50 million and $80 million, respectively, and both have already presented the WTO with a list of products they plan to hit -- ranging from sweet corn to metals and textiles. |
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