Post by Mech on Nov 18, 2003 4:21:09 GMT -5
U.S. Faces Up to $2.2B in EU Sanctions
1 hour, 33 minutes ago
story.news.yahoo.com/news?tmpl=story&cid=509&e=2&u=/ap/wto_us_steel
By NAOMI KOPPEL, Associated Press Writer
GENEVA - The United States is facing up to $2.2 billion in European Union trade sanctions within weeks after a World Trade Organization appeals panel ruled Monday that U.S. tariffs on imported steel are illegal.
In a 170-page report, a three-member WTO panel rejected the bulk of the U.S. appeal of an earlier ruling that said the duties of up to 30 percent introduced in March 2002 by President Bush administration breached trade rules.
The appeals body is WTO's highest tribunal, and the decision is final.