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Article: Trade Disputes Will Ruffle Feathers In 2004.(foreign trade)
- Article from:
- Kiplinger Business Forecasts
- Article date:
- December 11, 2003
- Author:
CopyrightCOPYRIGHT 2003 The Kiplinger Washington Editors, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline:Andrew C. Schneider
Dropping steel import tariffs early has helped President Bush avoid an expensive showdown with the European Union (EU). But other contentious trade issues loom, including a major spat over a U.S. tax break for exporters that's moving closer to high noon. The EU, emboldened rather than pacified by its victory over steel, seems increasingly likely to slap retaliatory tariffs on some $4 billion of U.S. exports by March.
The World Trade Organization (WTO) has ordered the U.S. to dispense with the Extraterritorial Income Exclusion Act (ETI), which provides billions of dollars of tax relief to U.S. companies that sell products ...