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Gold/Mining/Energy : Euro Impact on Gold, USD ...

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To: banco$ who wrote (65)11/25/1998 8:58:00 PM
From: banco$  Read Replies (2) of 289
 
"EU Takes U.S. to WTO Over steel"

Wednesday November 25, 8:25 am Eastern Time

EU Takes U.S. to WTO Over Steel

BRUSSELS, Belgium (AP) -- The European Union filed a complaint Wednesday with the World Trade Organization over a U.S. law which the EU claims discriminates against sales of EU steel products in the United States.

In a statement, the EU executive Commission said it requested a more detailed investigation of the matter after a first round of WTO-led discussions with the United States failed.

''The EU believes the 1916 Anti-Dumping Act, which prohibits the import and sale of goods on the U.S. market when the price is lower than in the country of production, breaks WTO rules,'' the statement said.

The Commission's decision to call for a WTO panel, which followed complaints by the EU steel industry, is also the latest in a
series of trade disputes between the EU and the United States.

The two sides are currently squabbling over the EU's banana import system which the U.S. claims violates WTO rules because it unfairly favors imports from former European colonies.

biz.yahoo.com
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