The Bush Morons strike again!....another SNOW job?
US goods set to double in price as Europe plans huge trade war
By Stephen Castle in Brussels
11 November 2003
American jeans, Florida orange juice and dozens of other US products could double in price from next month because
of a growing transatlantic trade war.
The World Trade Organisation gave the European Union permission yesterday to impose huge import tariffs, which will
allow price increases of between 8 and 100 per cent on a range of goods.
The row, which began when America imposed special duties of up to 30 per cent on European steel last year, reached a
climax yesterday when the trade watchdog gave a final decision in favour of the EU. It said the US action was
"inconsistent" with free trade commitments. Europe can now impose duties on products ranging from T-shirts and
lavatory paper, to bras, pantyhose, suspenders, ballpoint pens, ski suits and bowling alley equipment.
The EU says its sanctions, amounting to ¤2.2bn (£1.5bn) a year, will come into force on 15 December unless
Washington drops its steel duties. The sanctions would be the biggest in the history of the WTO.
Most of the affected imports face tariffs of 30 per cent on top of existing duties, though a small number will be set at 8 or
15 per cent and some at 100 per cent.
President George Bush now faces a dilemma over whether to back down and remove the steel tariffs. The American
government issued a statement yesterday saying that it disagreed with the ruling but would study it carefully.
The WTO's decision comes at a sensitive time, with the US presidential campaign about to begin in earnest. In drawing
up its list of sanctions, the EU has deliberately selected products from states which are crucial to President
Bush's electoral hopes.
news.independent.co.uk
Pres Shrub continues to star as the 'Worst-case-scenario-iser'.
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