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European trade

This article was originally published in The Rose Sheet

Executive Summary

World Trade Organization final ruling deciding whether U.S. repeal of Foreign Sales Corporation tax provision violates WTO trade regulations and provides unfair subsidy for U.S. businesses will be made public in August, U.S. Trade Representative says. An interim report, issued June 22, will be reviewed by U.S. and European Union. If violation is found, EU will be authorized to issue 100% duties on up to $4 bil. worth of U.S. exports to EU, including cosmetics
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