Article: Trade - A tussle over tax.(World Trade Organisation )(Brief Article)

America and Europe are stumbling towards a trade war over tax. The World Trade Organisation may be among the casualties

THE World Trade Organisation is rather unpopular in America these days. Trade unionists and environmentalists are gunning for it. So are Republican unilateralists. Now even businessmen are up in arms against it, after the WTO upheld a complaint by the European Union that "foreign sales corporations" (FSCs), tax-avoidance vehicles worth perhaps $3.5 billion a year, act as illegal export subsidies to firms based in America. George W. Bush, the front-runner for the Republican presidential nomination and until now a WTO supporter, joined a chorus of ...

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