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Article: Trade - A tussle over tax.(World Trade Organisation )(Brief Article)
- Article from:
- The Economist (US)
- Article date:
- March 4, 2000
CopyrightCOPYRIGHT 2000 Economist Newspaper Ltd. 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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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 ...