<nettime> The Revenge of Transnational Progressivism

[Bruce Sterling <bruces@well.com>]

*Round Up the Tranzis

*WTO, Greenpeace, Nettime Declared Blatant Menaces
to National Security

*Bush Administration to Unilaterally Renounce World Trade,
WTO Death Watch Starts Today

*"Lose Our Tax Breaks?!  That Means New Taxes!
  Hey, We Killed Your Father's Presidency For That, Sucker"

*When We Said Trade War With Europe,
We Never Meant A War We Might Actually Lose

*Our Military, Diplomatic and Economic Isolation
Is All Everybody Else's Fault, Just Ask Serbia

bruces



http://www.washingtonpost.com/wp-dyn/articles/A15333-2002Aug30.html

WTO Rules That EU Can Impose Duties on U.S. Exports
Sanctions Can Amount to a Record $4 Billion

By a Washington Post Staff Writer
Friday, August 30, 2002; 4:09 PM


The World Trade Organization ruled today that the European Union has the 
right to impose $4 billion in punitive duties on U.S. exports to Europe 
– by far the biggest penalty ever awarded in a WTO case – because of a 
tax break for American multinational companies that had been found to 
violate global trade rules.

The sanctions would inflict so much damage on both American exporters 
and European importers that policymakers on both sides were at pains 
today to emphasize the likelihood that the dispute will be settled 
before any duties are raised. But that would require Congress to change 
the tax break to comply with the WTO's finding last summer that American 
companies are getting an illegal export subsidy. So far members of the 
House and Senate have been stymied in efforts to craft a solution 
because of complaints from U.S. exporters about the financial setback 
they would suffer from losing the tax break.

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