EU threatens US with trade war

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Last updated at: (Beijing Time) Wednesday, November 05, 2003

EU threatens US with trade war

European Union Trade Commissioner Pascal Lamy has warned that the EU will retaliate if the United States continues to violate international agreements by giving tax breaks to US companies

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European Union Trade Commissioner Pascal Lamy has warned that the EU will retaliate if the United States continues to violate international agreements by giving tax breaks to US companies

The EU trade commissioner pointed to a three-year-old ruling by the World Trade Organisation calling on the US to end its subsidies. The World Trade Organisation also ruled that the EU could impose six billion euros in sanctions if the US failed to change its policies.

The EU has demanded that the US stop granting tax breaks before the end of the year.

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