|
|
Article: WTO REJECTS U.S. TAX LAW RULING COULD COST BOEING, MICROSOFT AND OTHERS BILLIONS ANNUALLY.(News)
- Article from:
- Seattle Post-Intelligencer
- Article date:
- January 15, 2002
CopyrightCOPYRIGHT 2002 Seattle Post-Intelligencer. All rights reserved. Reproduced with the permission of the Dialog Corporation by Gale Group. 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)
|
Byline: P-I STAFF AND NEWS SERVICES
A tax break that saves The Boeing Co., Microsoft Corp. and others billions of dollars annually is illegal, a World Trade Organization panel ruled yesterday, handing the United States its biggest defeat in a trade dispute.
The ruling sets the stage for the European Union to seek a record $4 billion in annual sanctions unless the United States complies with WTO rules. But the EU and the United States signaled their desire to avert a trade war that could dwarf any previous dispute.
European Union Trade Commissioner Pascal Lamy said the EU remained open to meaningful discussions with the Bush administration to ...