Pharma Investments, Ventures & Law Weekly
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Delegation of the European Commission to the United States
EU Prepares WTO Action Over US Trade Sanction Law
February 1st, 2009
Today, in a clear attempt to escalate the EU-US hormones dispute, the outgoing US administration has decided to suspend the so called "carousel" trade sanctions legislation and thereby allow the US to revise, every six months, the list of goods subject to sanction. It is more punitive than the current measure which imposes duties of 100 percent on certain products. The value of the sanctions amounts to 116.8 million euros on a fixed list of goods. It is clear that exporters will face increased uncertainty as their goods could be subject to tough duties at short notice. The trade implications of this measure will be significant. “Transatlantic trade needs champions, not sanctions," said EU...
Source: Pharma Investments, Ventures & Law Weekly (2009-02-01)
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